FXStreet (Edinburgh) - The bid tone of the sterling has prompted EUR/GBP to retrace part of yesterday’s rally overnight and test lows around the 0.7540 area. EUR/GBP attention to UK PMI The cross is finding some decent support around the uptrend from December 2015 in the mid-0.7500s, in a context where the risk-on trade seems to be favoured ahead of the opening bell in London. A light calendar in the euro area will only see December’s Unemployment rate, while Construction PMI is due across the Channel. EUR/GBP key levels The European cross is now up 0.42% at 0.7575 with the next hurdle at 0.7756 (high Jan.20) followed by 0.8007 (high Dec.16 2014) and then 0.8041 (high Nov.27 2014). On the other hand, a breach of 0.7481 (61.8% Fibo of 0.7310-0.7758) would expose 0.7310 (low Jan.5) and finally 0.7247 (200-day sma). For more information, read our latest forex news.