Final Eurozone CPI is predicted to confirm the initial reading and show the lack of inflationary pressures. The ECB maintains the monetary policy favored by former President Draghi, but the desired effects remain absent. US Dollar weakness is adding to Euro strength, but the EURGBP is poised to restart its sell-off. Will inflation data have an impact on this currency pair, which is weakening inside of its horizontal resistance area? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

UK retail sales will be in focus today. Economists anticipate a rebound in December from the previous month’s contraction. The UK economy finished the last two months of 2019 with a string of economic disappointments, will retail sales surprise to the upside, and point towards a resilient consumer? With bears pushing price action lower, can they succeed in forcing a breakdown, or will bulls charge once again? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.