EUR/GBP rebounds from 2-week lows, back above mid-0.9100s

The shared currency moved higher on Wednesday, helping the EUR/GBP cross to recover part of previous session's slide to over two-week lows.

On Tuesday, the British Pound shrugged off weaker UK services PMI print and gained bullish traction across the board, which eventually weighed heavily on the cross. 

With the Sterling consolidating overnight strong gains, the cross managed to catch some fresh bids and was being further supported by the latest leg of strong up-move in the EUR/USD major.

It would now be interesting to see if the up-move is back by any genuine buying or is solely led by some short-covering ahead of the keenly awaited ECB monetary policy decision, due to be announced on Thursday.

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Technical levels to watch

A follow through momentum beyond 0.9165 level could assist the cross to reclaim the 0.9200 handle and head towards testing its next hurdle near the 0.9225-30 region. 

On the downside, 0.9135-30 zone now seems to have emerged as immediate support, which if broken could accelerate the slide towards the 0.9100 handle en-route 0.9080 support.