Better Data Out of the EU and Worse than Expected out of UK Send EURGBP higher

Greg Michalowski |

The EURGBP has been impacted by better data out of EU and worse than expected data out of the UK. EU manufacturing numbers exceeded expert's estimations. In addition, Spain's unemployment rate fell more than 1.5%.  Retail sales in the UK rose slightly, better than last month's but still worse than analysts had called for. Ex auto in the UK was also worse than expected.

The fundamental dynamic lifted the EURGBP to the upside. That move was confirmed by better techicals in the charts. When Fundamentals and Technicals are in synch, that is the recipe that could lead to a trend-like move in the currency pair.  


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