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The EUR/GBP pair has declined for a second consecutive day, falling towards 0.8605. The Eurozone’s preliminary Q2 GDP report is set to be released on Wednesday, and no relevant data releases will feature on Monday’s economic calendar.
The Office for National Statistics will release key labour market data on Tuesday, including earning figures and Claimant Counts numbers from July.
Inflation data from July is expected to show a robust labour market and decelerating inflation. The Bank of England no longer expects a recession but will work to bring down inflation, which could impact the Pound’s price dynamics.
Markets await the Eurozone’s GDP preliminary figures for Q2 and the Harmonized Index of Consumer Prices (HIICP) from July on Friday. The daily chart indicates a neutral to bearish trend for EUR/GBP, with the bears gradually taking control.
