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    EUR/GBP retreats from 0.8400 ahead of data

    The now bid tone around the sterling is weighing on EUR/GBP, dragging it back to the 0.8380/75 band.EUR/GBP looks to dataAfter briefly testing levels last seen in December 2013 above the 0.8400 handle, the European cross has returned to the vicinity of 0.8380 following a pick up in the demand for GBP and a steady performance from EUR during the Asian session.Ahead in the session, UK’s Construction PMI is due followed by EMU’s Investor Sentiment tracked by the Sentix index, all against the backdrop of thin liquidity due to the inactivity in US markets.EUR/GBP key levelsThe cross is now losing 0.17% at 0.8380 and a breakdown of 0.8202 (low Jun.29) would open the door to 0.8018 (20- day sma) and then 0.7873 (55-day sma). On the flip side, the next up barrier lines up at 0.8407 (2016 high Jul.1) ahead of 0.8467 (monthly high Dec.17 2013).

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