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Forex pairs in this Article » EUR/GBP (Barcelona) - In the last day of the week, the EURGBP went taking a peek at the 0.8120 zone, printing a low at 0.8115 on the Asian session. The London opening triggered an upmove that found its daily high at 0.8140 ahead of UK data.

The annualized UK GDP Q3 came off of the -0.1% recession to 0.0% despite the quarterly growth +0.9% being below the +1.0% expected. The quarterly Total business investment in Q3 rose from 3.7% to 3.8% (beating consensus of 3.5%) to an annualized rise from 3.1% to 5.1%. The UK Public Sector Net Borrowing more than doubled, from £6,003B to £15,328B in November, higher than the £14,200B prediction. The cross is weakening following the publications.

"We continue to believe that it (October and June highs at 0.8148/65 resistance) will again provoke failure and thus target the 200 day moving average at 0.8046 as well as the six month support line at .8045 over the next few weeks", wrote Commerzbank analyst Karen Jones.
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