The Euro weakens against the Pound as May retail sales growth in Germany fails to lift the currency amid bearish momentum.
The Euro fell against the British Pound for a second day, trading near 0.8600, an 11-month low. German Retail Sales rose 1.1% in May, exceeding expectations of a 0.1% contraction, but failed to support the EUR.
UK Q1 GDP growth remained at 0.6% quarter-on-quarter, though annual growth was revised down to 0.9% from 1.1%. The Pound showed resilience despite the revision, while the Euro struggled to gain traction.
Technical indicators suggest bearish momentum, with the four-hour Relative Strength Index at 35.57. The EUR/GBP cross remains directionless, hovering near key support levels.