Back
14 Nov 2013
EUR/GBP stands to attention on UK Retail Sales miss
FXstreet.com (Barcelona) - Having posted a daily low at 0.8387, just prior to todays UK Data, EUR/GBP has jumped to post a high at 0.8416, and is presently trading at 0.8407, up 0.09% on the days trading.
EUR/GBP spikes higher on UK data miss
While today has seen softer than expected French GDP data, UK Retail Sales data have provided the main focal point for the pair, with MoM (Oct) declining -0.7% against expectations of 0.0%, and 0.6% previous. YoY (Oct) data came in at 1.8%, against forecasts of 3.1% and 2.0% previous. A similar pattern was found in Retail Sales ex Fuel.
How strong has EUR/GBP been?
Looking at the FXstreet proprietary tools, the OB/OS Index and Trend Index, we can see that the pair is neutral and slightly bullish respectively. Hourly RSI is at 50 and climbing, while ADX is at 33. The hourly 200 SMA is at 0.8404 and flat, while the 20 day EMA is at 0.8440 and ranging.
What are today’s key EUR/GBP levels?
The central pivot point is located at 0.8414. Pivot supports for this pair are to be found at 0.8364 (S1), 0.8326 (S2) and 0.8276 (S3).Conversely, daily pivot resistances for this pair are to be found at 0.8452 (R1), 0.8502 (R2) and 0.8540 (R3).Special attention should be paid to the price range 0.8374-0.8340 where several technical levels are confluent today.
EUR/GBP spikes higher on UK data miss
While today has seen softer than expected French GDP data, UK Retail Sales data have provided the main focal point for the pair, with MoM (Oct) declining -0.7% against expectations of 0.0%, and 0.6% previous. YoY (Oct) data came in at 1.8%, against forecasts of 3.1% and 2.0% previous. A similar pattern was found in Retail Sales ex Fuel.
How strong has EUR/GBP been?
Looking at the FXstreet proprietary tools, the OB/OS Index and Trend Index, we can see that the pair is neutral and slightly bullish respectively. Hourly RSI is at 50 and climbing, while ADX is at 33. The hourly 200 SMA is at 0.8404 and flat, while the 20 day EMA is at 0.8440 and ranging.
What are today’s key EUR/GBP levels?
The central pivot point is located at 0.8414. Pivot supports for this pair are to be found at 0.8364 (S1), 0.8326 (S2) and 0.8276 (S3).Conversely, daily pivot resistances for this pair are to be found at 0.8452 (R1), 0.8502 (R2) and 0.8540 (R3).Special attention should be paid to the price range 0.8374-0.8340 where several technical levels are confluent today.