EUR/GBP sits at session tops, above mid-0.9100s ahead of ECB

The EUR/GBP cross staged a modest recovery from near two-week lows touched in the previous session and held on to the positive bias through early European session. 

Currently holding marginally above mid-0.9100s, today's up-move lacked any fresh catalyst and could be solely attributed to some repositioning trade ahead of the ECB monetary policy decision.

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The recovery, however, seemed lacking strong conviction as the market remained wary of any possible jawboning by the ECB President Mario Draghi, holding traders back from placing any aggressive bets ahead of the key event risk.

Moreover, a mildly positive tone around the GBP/USD major further collaborated toward keeping a lid on any further up-move, with the cross facing some difficulty in clearing 0.9170 immediate hurdle.

Meanwhile, the revised Euro-zone GDP growth numbers, matching original estimates of 0.6% q-o-q growth during the second quarter, went unnoticed and did little to provide any fresh impetus. 

Technical levels to watch

Momentum beyond 0.9170 level could get extended back towards reclaiming the 0.9200 handle, above which the cross is likely to dart towards recent daily closing highs resistance near the 0.9265-70 region.

On the flip side, 0.9135-30 area is likely to act as immediate support, which if broken would turn the cross vulnerable to slide further below the 0.9100 handle towards testing its next support near the 0.9065-60 region.