German consumer confidence eased and French consumer spending disappointed. Forex traders now look forward to Italian business and consumer confidence data, but the EURGBP has reached the upper level of its horizontal resistance area. Will weak Eurozone economic data force a price action reversal, or will UK data extend that advance in this currency pair? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

UK data has been soft, but the Lloyds Business Barometer continued to improve. The Bank of England kept interest rates unchanged as expected, and the focus is now on Brexit and developments regarding the transition period. What impact will the final UK GDP reading for the third quarter have on the EURGBP? Today’s fundamental analysis will take a look at price action in both directions.