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      EUR/GBP eases-off highs on UK retail sales

      FXStreet (Mumbai) - The cross in the EUR/GBP eased-off session highs and shed some gains following the release of in line with estimates the UK’s retail trade figures.

      EUR/GBP slips from 0.7315 session highs

      Currently, the EUR/GBP pair rises 0.29% to 0.7308, retreating from session peaks of 0.7315. The EUR/GBP cross keeps bid tone intact although erased partial gains as the pound in response to the UK retail sales data which matched estimates.

      Total retail sales volumes picked up pace slightly in August by 0.2%, above previous month's downwardly revised 0% growth, and in line with market estimates. Sales excluding fuel slowed to 0.1% from a revised 0.3% in July.

      Whilst, the euro remains stronger against the US dollar as risk-aversion hits the European markets ahead of the Fed decision.

      EUR/GBP Technical Levels

      To the upside, the next resistance is located at 0.7375 (Sept 3 High) levels and above which it could extend gains to 0.7400 levels. To the downside immediate support might be located at 0.7272 (Today’s Low) below that at 0.7243 (Aug 31 Low).

      GBP/USD challenges 1.5500 on UK data

      The sterling is now surrendering part of the initial gains vs. the greenback, sending GBP/USD to test the boundaries of the key support at 1.5500...
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      UK retail sales growth in August slowed more than expected

      The data released by the UK Office for National Statistics (ONS) in the UK showed the sustained strength in the labor markets and the uptick in the wage growth did push households to spend at a faster rate in August.
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