EUR\/GBP eased on Monday to about 0.8560, after touching a two-week low of 0.8554, as Sterling regained some traction. The Euro remains supported by a hawkish European Central Bank, although Christine Lagarde\u2019s Vienna remarks centred on Europe\u2019s reliance on imported artificial intelligence rather than rate guidance. Separately, she has described the energy shock as \u201clonger-lasting\u201d, while euro area inflation stands at 3.3% against the 2% target.<\/p>\n
Attention turns to Tuesday\u2019s UK labour-market release, expected to soften: average earnings including bonuses are seen at 3.9% versus 4.1%, the ILO Unemployment Rate is forecast at 5% from 4.9%, and the Claimant Count Change is expected to shift back to an increase after the previous fall. Germany\u2019s ZEW economic sentiment survey is due the same day.<\/p>\n
Technically, the cross trades below the 20-period SMA at 0.8580 and the 100-period SMA at 0.8575, with resistance also flagged at 0.8562 and 0.8565; the RSI is near 30.15. Support is marked at 0.8556 and 0.8555.<\/p>\n\n\n\n