EUR/GBP Stuck Below Key Resistance as Risk-Off Sentiment Persists

The EUR/GBP cross is struggling to break above the 0.8550 mark due to risk-off sentiment in global markets.

This has led investors to favor the safe-haven British pound, while putting pressure on the euro.

Despite attempts by the euro to rally, it has been repeatedly sold into around 0.8550, a level that has acted as a short-term resistance zone.

The risk-off mood is driven by weak economic data from major economies and lingering trade uncertainties, which have boosted demand for the pound.

The European Central Bank's potential to ease policy further to support the region's sluggish economy also remains a concern for the euro.