EUR/GBP recovers from 1-month lows

EUR/GBP recovered from 1-month lows and trimmed daily losses as the post-UK data momentum faded away.

The pound strengthened during the European session after data showed UK services sector expanded more than expected in August. EUR/GBP fell to a low of 0.8351 before finding support. At time of writing, the pair is trading at 0.8370, recording a 0.24% loss on the day.

 EUR/GBP levels to watch

In terms of technical levels,immediate supports are seen at 0.8351 (Sep 5 low), 0.8300 (psychological level) and 0.8249 (Jul 14 low). On the flip side, resistances could be faced at 0.8405 (Sep 5 high), 0.8444 (Sep 2 high) and 0.8468 (50-day SMA).