UK retail sales the highlight in European trading todayUK retail sales the highlight in European trading today
Contango Structure Marks Fourth Week of LossesContango Structure Marks Fourth Week of Losses

There are a couple to take note of on the day, as highlighted in bold.

The first ones are for EUR/USD, layered in between 1.0800 through to 1.0875. That should keep price action more contained once again in the session ahead, likely revolving in and around the 1.0850 mark such as we are seeing right now. The pair is only resting within a 12 pips trading range on the day and any extensions are likely to stick within the confines of the expiries above, barring any major shifts in the market mood.

Then, there is the one for EUR/GBP at 0.8750, which is a level that has prevented any further upside push in recent weeks. The expiries should help to tag along and keep price action at bay, though there is UK retail sales to watch out for and that could impact sterling sentiment on the day.

For more information on how to use this data, you may refer to this post here.

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