EUR/GBP:

Currently, EUR/GBP is trading at 0.8406, down -0.38% on the day, having posted a daily high at 0.8450 and low at 0.8401.

EUR/GBP broke below the key 0.8420 support level with sterling again proving to be resilient amongst the Brexit uncertainties within a robust economy in the UK proving that consumers remain active on the high street. 

Retail sales, as noted by analysts today at Scotiabank, rose strongly last month. "The 5.6% gain in sales was well ahead of expectations and represented the strongest advance in this measure since 2001." However, GBP/USD has been unable to break the 1.3000 level and carries a soft undertone which is supporting the cross despite EUR/USD dropping below the 1.09 handle.  However, there are bullish prospects for the euro according to analysts at Nomura that could further slow down the bear's appetite in the cross: EUR likely to react to positive data: bullish on EUR - Nomura

EUR/GBP levels

Analysts at Commerzbank explained that EUR/GBP’s near term outlook is neutral to negative: "EUR/GBP remains subdued, trading below the 55- and 200-day moving averages at 0.8550/97, which is reinforced by the seven-month resistance line at 0.8578. It is coming under slight downside pressure and while this caps, a retest of key support at 0.8334/04 may be seen."