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6 Aug 2013
EUR/GBP ticking up from lows
FXstreet.com (London) - EUR/GBP has been creeping up out of yesterdays range.
EUR/GBP is now printing 0.8660 after this mornings data. The calendar for the EZ was quiet today, with only a handful of second-tier data releases. We started with Italian IP and the first print of Italian Q2 GDP, and then we saw the German factory orders. The German factory orders were printing 4.3% vrs -0.2% consensus year on year for June. Italian data was also coming out positively for the economy overall. For the UK, the trade balance came in -$34.22B and better than the -$43.10B number the market had been expecting. UK Industrial Production was 1.1% mom, 1.2% yoy and Manufacturing Production was 1.9% mom and 2.0% yoy. Those exceeded expectations and has supported the outlook for the UK economy yet again.
EUR/GBP off its lows
EUR/GBP is off its lows and has moved away from the 20 d ma is 0.8645. The 50 d ma is 0.8578 and the 200 d ma comes as 0.8426. RSI (9) reads 46.62. Supports are ascending from 0.8575, 0.8589, 0.8606, and 0.8622. Spot is currently 0.8660 while resistances are 0.8695, 0.8712, 0.8745 and 0.8770.
EUR/GBP is now printing 0.8660 after this mornings data. The calendar for the EZ was quiet today, with only a handful of second-tier data releases. We started with Italian IP and the first print of Italian Q2 GDP, and then we saw the German factory orders. The German factory orders were printing 4.3% vrs -0.2% consensus year on year for June. Italian data was also coming out positively for the economy overall. For the UK, the trade balance came in -$34.22B and better than the -$43.10B number the market had been expecting. UK Industrial Production was 1.1% mom, 1.2% yoy and Manufacturing Production was 1.9% mom and 2.0% yoy. Those exceeded expectations and has supported the outlook for the UK economy yet again.
EUR/GBP off its lows
EUR/GBP is off its lows and has moved away from the 20 d ma is 0.8645. The 50 d ma is 0.8578 and the 200 d ma comes as 0.8426. RSI (9) reads 46.62. Supports are ascending from 0.8575, 0.8589, 0.8606, and 0.8622. Spot is currently 0.8660 while resistances are 0.8695, 0.8712, 0.8745 and 0.8770.