The Euro (EUR) steadies against the Pound Sterling (GBP) on Wednesday, with EUR/GBP trading flat near the 0.8540 zone after two consecutive declines. The Pound briefly hit a two-week high earlier in the day before retracing following the release of the German Consumer Price Index (CPI), which showed inflation remained sticky in July. On Thursday, the preliminary UK GDP will be the main catalyst for the cross. On the downside, initial support emerges at 0.8534, ahead of a lower horizontal floor at 0.8532, which together define the immediate demand area. (The technical analysis of this story was written with the help of an AI tool.