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Forex: EUR/GBP in session highs after UK data

By FXstreet.com,  January 11, 2013, 04:38:00 AM EDT

FXstreet.com (Barcelona) - The pair is visiting the area around 0.8225, after poor data out of the British economy during November is weighting on the sterling. In fact, the UK industrial production rose only 0.3% MoM and contracted 2.4% on a yearly basis, missing expectations at +0.8% and -1.9%, respectively. Manufacturing production followed suit, contracting 0.3% on a monthly basis and 2.1% over the last twelve months.

At the moment the pair is up 0.26% at 0.8230 facing the next resistance at 0.8243 (high Apr.18) ahead of 0.8269 (high Apr.12) and finally 0.8276 (high Apr.10).
On the flip side, a breach of 0.8137 (MA10d) would bring 0.8090 (Lower Bollinger) en route to 0.8089 (MA55d).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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