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

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
Greg Michalowski, Founder and President of GregMikeFX.com, a foreign exchange consulting company, and author of Attacking Currency Trends (WIley Publishing) has 28 years experience as a trader and financial analyst. His career began at Citibank New York and later at Citibank London where he was a Vice President and trader of interest rate derivatives. He later joined Credit Suisse First Boston, New York, in the same capacity as a derivatives trader and market maker in the banks Funding Department. In 2000, Greg transitioned to FXDD where he was one of the founding employees of FX DirectDealer (later FXDD). While at FXDD, he helped manage the currency risk, and later become the Chief Currency Analyst. Greg has educated and spoken around the globe to thousands of retail traders. He has written for various publications including Equities magazine. His thoughts on the forex market have appeared in the Wall Street Journal, Bloomberg, and Thomson Reuters.
Greg Michalowski, Founder and President of GregMikeFX.com, a foreign exchange consulting company, and author of Attacking Currency Trends (WIley Publishing) has 28 years experience as a trader and financial analyst. His career began at Citibank New York and later at Citibank London where he was a Vice President and trader of interest rate derivatives. He later joined Credit Suisse First Boston, New York, in the same capacity as a derivatives trader and market maker in the banks Funding Department. In 2000, Greg transitioned to FXDD where he was one of the founding employees of FX DirectDealer (later FXDD). While at FXDD, he helped manage the currency risk, and later become the Chief Currency Analyst. Greg has educated and spoken around the globe to thousands of retail traders. He has written for various publications including Equities magazine. His thoughts on the forex market have appeared in the Wall Street Journal, Bloomberg, and Thomson Reuters.

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.