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Forex: EUR/GBP stays below 0.8100 after UK CBI Orders

By FXstreet.com,  December 13, 2012, 06:26:00 AM EDT

FXstreet.com (Barcelona) - Having peaked at 0.8116 high, the EUR/GBP came down across the chart to test the 0.8100 handle during the London morning, reaching a low at 0.8093 before returning to the psychological level, where the market currently sits.

The UK Orders survey provided by CBI Industrial Trends beat consensus by improving from -21 to -12 in December, instead of coming in at -16.

UBS analysts are neutral on the EUR/GBP: "The momentum tools are threatening to cross higher, indicating a potential test of resistance at 0.8148/69", wrote analyst Geoffrey Yu, pointing to support at 0.8062 ahead of 0.8032.




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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