EUR/GBP Stuck in Tight Range as Market Waits for Middle East Clarity

The EUR/GBP currency pair has been stuck in a tight range, hovering around the mid-0.8500s on Friday's session.

This is due to the lack of clear signals from the market following the release of Eurozone data for Q2 GDP and employment, which came in close to forecasts.

The figures showed that the Eurozone's Gross Domestic Product (GDP) grew 0.4% in the second quarter, matching expectations, while employment rose 0.1% on the quarter, also as forecasted.

Traders are now waiting for clearer signals from the Middle East war, which is affecting energy prices and inflation, a key factor that the European Central Bank (ECB) is weighing.