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5 Feb 2013
Forex: EUR/GBP hovering over 0.8575
After a failed attempt to rebound to the 0.8590 area, the pair is now back to the zone around 0.8575, after retail sales in the euro zone have contracted further during December. In fact, sales dropped 0.8% on a monthly basis and 3.4% over the last twelve months, against -0.3% and -1.1% expected, respectively.
Continuing with the data, UK services PMI climbed to 51.5 during January, leaving behinf December’s 48.9
At the moment the cross is up 0.04% at 0.8578 with the next hurdle at 0.8701 (high Feb.4) followed by 0.8717 (high Feb.1).
On the downside, a breach of 0.8552 (MA10d) would expose 0.8524 (low Jan.28).
Continuing with the data, UK services PMI climbed to 51.5 during January, leaving behinf December’s 48.9
At the moment the cross is up 0.04% at 0.8578 with the next hurdle at 0.8701 (high Feb.4) followed by 0.8717 (high Feb.1).
On the downside, a breach of 0.8552 (MA10d) would expose 0.8524 (low Jan.28).