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

EUR/GBP weakened earlier in the day, before moving away from its 0.8675 low and recovering back to 0.8687.

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%. Germany GDP released earlier showed a marked improvement to -0.3 from the preceding data of -0.4, but fell short of the -0.1 figure forecast by a consensus of market analysts.

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.

Though Euro-Pound has been dropping, other pairs have been performing better: GBP/JPY is up 0.66%. GBP/NZD is up 0.47%. USD/JPY improves 0.41% to trade around 140.62.

Trading mostly sideways for 3 months. As things stand, Euro-Pound is 11.06% away from a significant high of 0.9785, first set 7 months ago.