Forex: EUR/GBP rallies on downbeat UK GDP Q4
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - The EURGBP rallied on the release of UK GDP data on the back of a falling British Pound. The cross has reached 0.8529 high, so far, after breaching above the 0.8500 psychological level as investors sell the British currency in reaction to a downbeat report.
The UK showed no growth in the end of 2012, according to the preliminary publication. 0.0% in Q4 (YoY) as the actual figure, coming lower than the expected 0.2% growth. The quarterly change was a 0.3% contraction, wider than the expeted 0.1% drop.
Mataf.net analysts point to resistances at 0.8535 and 0.8550. On the downside, supports might be found at 0.8475, 0.8460 and 0.8420.
The UK showed no growth in the end of 2012, according to the preliminary publication. 0.0% in Q4 (YoY) as the actual figure, coming lower than the expected 0.2% growth. The quarterly change was a 0.3% contraction, wider than the expeted 0.1% drop.
Mataf.net analysts point to resistances at 0.8535 and 0.8550. On the downside, supports might be found at 0.8475, 0.8460 and 0.8420.
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