Euro-Pound set for weak finish today; down 0.19% to 0.8687 with 2 hours before close

EUR/GBP recovering almost all the way back to 0.8703 today, after dipping down to 0.8675.

Nonetheless, encouraging indicators for Euro-Pound published earlier when data for United Kingdom Retail Sales published today at 06:00 UTC came out at 0.5%, beating projections of 0.4% and showing improvement over the preceding figure of -1.2%. Highly important GDP data from Germany beat analyst expectations of -0.1 with a reading of -0.3.

While price action maintains a negative bias, United Kingdom CFTC GBP speculative net positions released today at 20:30 UTC with a figure of 11,600, while the previous figure was 12,600.

Positive performances can be seen by looking at other currencies as having closed the previous session at 172.53, GBP/JPY is up 0.66% today to currently trade at around 173.67. GBP/NZD is up 0.47%. USD/JPY is up 0.41% to 140.62.

Trading mostly sideways for 3 months. Euro-Pound is now trading 11.06% away from its significant high of 0.9785 first tested 7 months ago.