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19 Dec 2013
EUR/GBP steady after UK retail sales
FXstreet.com (Córdoba) - The EUR/GBP remained little changed after November UK retail sales came in slightly below expectations.
UK retail sales grew 0.3% in November matching forecast but they rose 2.0% over the last 12 months, missing expectations of a 2.3% increase. Excluding fuel, sales rose 0.4% MoM and 2.3% YoY against the expected 0.3% and 2.5% respectively. The EUR/GBP edged slightly higher after the data, moving away its 2-week low scored earlier at 0.8338, but lacked follow-through.
EUR/GBP technical levels
At time of writing, the EUR/GBP is trading at 0.8350, virtually unchanged since opening after losing 1.4% the previous day in the wake of strong UK employment figures and Fed taper surprise. As for technical levels, the EUR/GBP could find immediate supports at 0.8338 (daily low), 0.8315 (Nov 22 low) and 0.8300 (psychological level). On the flip side, resistances are seen at 0.8359 (daily high/21-day SMA) and 0.8395 (Dec 9 high).
UK retail sales grew 0.3% in November matching forecast but they rose 2.0% over the last 12 months, missing expectations of a 2.3% increase. Excluding fuel, sales rose 0.4% MoM and 2.3% YoY against the expected 0.3% and 2.5% respectively. The EUR/GBP edged slightly higher after the data, moving away its 2-week low scored earlier at 0.8338, but lacked follow-through.
EUR/GBP technical levels
At time of writing, the EUR/GBP is trading at 0.8350, virtually unchanged since opening after losing 1.4% the previous day in the wake of strong UK employment figures and Fed taper surprise. As for technical levels, the EUR/GBP could find immediate supports at 0.8338 (daily low), 0.8315 (Nov 22 low) and 0.8300 (psychological level). On the flip side, resistances are seen at 0.8359 (daily high/21-day SMA) and 0.8395 (Dec 9 high).