The EUR/GBP pair is attempting a recovery as investors eagerly await a speech by European Central Bank (ECB) President Christine Lagarde. Investors are looking for any dovish hints from Lagarde's speech that might resume the pair's downtrend. Immediate resistance for the pair lies at 0.8580, with strong resistance between 0.8600 and 0.8620. On the downside, support levels can be found at 0.8550 and 0.8500. The EUR/USD remains close to the level of 1.09 as investors await the meeting of the European Central Bank and the speech of President Christine Lagarde. The focus is on Lagarde's statements regarding the prospects of the European economy and a possible time horizon for changing monetary policy. Bets are currently concentrated on the possibility of the ECB's first rate cut in the summer. The exchange rate is trading on either side of the 1.09 level, indicating a lack of strong direction. The European currency is showing resistance but the possibility of the 1.08 level being challenged again has not gone away. The market is awaiting news and announcements with caution. The US economic docket will feature Q4 GDP data alongside December Durable Goods Orders. [cbdbfaba] [0a90a02b]
