EUR/USD directionless around 1.1280, focus on US GDP, Powell

• The pair stays under pressure below 1.1300 the figure.
• The greenback remains sidelined around 97.40.
• Next of significance will be Q3 GDP, Powell’s speech.

The shared currency keeps struggling for direction in the middle of the week, taking EUR/USD to the 1.1280 region ahead of key events across the pond.

EUR/USD looks to Powell, data

Spot stays under pressure after breaking below the critical barrier at 1.1300 the figure, so far finding support in the 1.1270/65 band.

Absent headlines from the Brexit talks have given some respite to the Sterling and keep sustaining the sharp drop in EUR/GBP, in turn adding to the current EUR-weakness.

Looking ahead, the greenback will be in centre stage following the publication of flash readings of US Q3 GDP figures ahead of New Home Sales for the month of October and the speech by Chief J.Powell at the Economic Club in New York.

EUR/USD levels to watch

At the moment, the pair is losing 0.01% at 1.1287 and a break below 1.1267 (low Nov.28) would target 1.1214 (2018 low Nov.12) en route to 1.1188 (61.8% Fibo of the 2017-2018 rally). On the flip side, the next barrier is located at 1.1357 (21-day SMA) seconded by 1.1434 (high Nov.22) and finally 1.1473 (high Nov.20).