EUR/GBP weakens on Euro’s retreat

The EUR/GBP pair is resuming its downward trend, edging closer to its yearly low, signaling potential bearish momentum in the pair. The current trend remains undecided below the 0.8700 resistance, awaiting a clear direction pressured down by failing German Yields.

Market awaits ECB President Lagarde’s speech and German inflation data on Wednesday for potential developments. The Euro is currently experiencing widespread losses and depreciation, which is having an impact on its pairs against the US Dollar, Japanese Yen and the Swiss Franc.

The EUR/GBP pair is showing a resumption of its downward trend, getting closer to its yearly low and indicating a potential bearish momentum. With the pair’s trend remaining uncertain below the 0.8670 zone, market participants are awaiting ECB President Lagarde’s upcoming speech and German inflation data on Wednesday for possible developments that could provide clarity and influence the market’s direction.

On Tuesday, Spanish inflation data, released by the National Statistics Institute may also have an impact on the Euro price dynamics.