FXStreet The EUR/GBP extending its downward correction, as the new day low after the UK retail sales were released.
The Couple ran into new deals and so the total profits from the Wednesday that were mined from the area of the 7-week high, after the UK retail sales delivered an overwhelmingly good result – On-month basis, retail sales also increased in April by 2.3% year-on-year by 4.0%. The British pound was able to benefit from this optimistic reading, and so the Pair fell in the middle of the 0,8500.
Next, we expect the ECB’s minutes of the April meeting and the scheduled speech by ECB President Mario Draghi.
Supports lie at 0,8560 (yesterday’s Low), 0,8530 and 0.8500 (psychological level). On the other hand, Resistances are seen at 0.8600, 0,8650 and 0,8675/80.
** FXStreet News Editorial, FXStreet**