EUR/GBP: sticky around 0.92 the figure, all eyes on US data

Currently, EUR/GBP is trading at 0.9216, up 0.23% on the day, having posted a daily high at 0.9241 and low at 0.9186.

GBP/USD recovers portion of daily losses remains below 1.29

EUR/GBP is struggling somewhat around the 1hr 50 sma located a 0.9231 in a minor recovery from 0.9180 territories. Sterling has been on the defensive vs the greenback where a resurgence in the US dollar has been seen across the board, initially hurting the euro bulls the most and EUR/USD continues to ease. 

GBP: Mixed fortunes – Westpac

However, for the near term at least and before the next ECB and Fed meetings next month, much will now depend on the nonfarm payrolls at the end of the week. There are major concerns over the latest US inflation data that won't help the Fed convince markets that further rate hikes are to come, despite yesterday's surprise GDP data for Q2. The jobs numbers could well be the dollar's savior.

Nonfarm Payrolls Preview: it will be different this time 

Elsewhere, the EU negotiators are not satisfied with the UK's effort on Brexit to date, and this makes the EU unlikely to signal that it is ready to discuss the post-Brexit relationship, explained analysts at Brown Brothers Harriman.  "The UK government's reported hopes to pull an end run and appeal directly to Merkel and Macron is unlikely to prove successful.  It is far too early for the heads of state to overrule the EU's negotiating team," noted the analysts. 

EUR/GBP levels

EUR/GBP faltered at 0.9300 and ahead of the 2008-2017 resistance line at 0.9344. "Together with the 0.9403 October 2016 high, this represents tough resistance which is likely to hold the initial test," argued analysts at Commerzbank, noting that below today's lows lie the four-month support line at 0.8992. The up move remains intact above here."