The Euro remains range-bound against the Pound as traders await Germany’s Q2 GDP and August IFO business surveys.
The Euro traded sideways against the Pound Sterling on Monday, stabilizing around 0.8559 after failing to break above 0.8580 last week. With no fresh catalysts, the cross remains confined to the mid-0.8500s, awaiting key German economic releases on Tuesday.
Germany’s second-quarter GDP is expected to show subdued growth, while the IFO Business Climate index is forecast to rise to 87.2 in August from 86.6. The UK economic calendar is light, leaving the EUR/GBP pair to trade on relative ECB and BoE policy expectations.
Technical analysis suggests a mildly bearish bias, with the pair capped below the 20-period SMA at 0.8567 and resistance near 0.8560-0.8561. Support lies lower, but momentum indicators point to limited upside potential in the near term.