Investors are expecting the EUR/USD pair to decline despite seeing improvements in recent hours. Concerns over a potential trade war between the EU and the U.S. has pair stuck in a bearish channel. 

Eurozone Industrial Production may boost the Euro, if the released data is better than predicted. 

During the past 12 hours, the EUR/USD currency gained but remains to be headed towards a bearish situation. The channel the pair seems to be trapped in links the December 31st and January 7th highs and the lows of January 3rd and January 9th. 

The pair currently trades around the 1.11233 handle.

Bloomberg reports that the EU’s trade chief Phil Hogan is set to hold talks with US Trade Representative Robert Lighthizer, together with other American officials between a January 14th and 16th. 

France’s new digital services tax, European support for Boeing’s chief rival and Airbus are some of the main disputes on the agenda. 

With the UK CPI report soon released, the Cable is forecasted to make a move towards the 1.3050 handle. The GBP/USD pair opened the markets at the 1.3021.

British Prime Minister Boris Johnson rejected Scottish PM Sturgeon’s proposition for another Scottish independence referendum.

The pair could be affected by increased Bank of England dovish expectations and declining UK GDP information.