EUR/GBP opens lower ahead of German data – trading range bound short-term

FXstreet.com (Barcelona) - The EUR/GBP appears to be consolidating short-term with more upside potential brewing. A break above 0.8554 will signal the potential is being realized.

EUR/GBP traders have German retail sales and minor British data due out Monday

EUR/GBP traders will get to trade off of the release of German retail sales, British housing and British trade data Monday.

Technical outlook for EUR/GBP

Technicians say the EUR/GBP cross is currently in a short-term trading range between 0.8503 and 0.8554. Next resistance comes in at the next Fibonacci projection of 0.8577. Next support on a breakdown would come in at the 10/11 close at 0.8488.