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Forex: EUR/GBP dips to lows after UK data

FXstreet.com (Barcelona) - The pair dropped to the vicinity of 0.8510 after the sterling found buying interest on the upbeat data from the industrial sector in the British economy during February. The industrial production expanded 1.0% on a monthly basis and contracted 2.2% over the last twelve months and while the manufacturing production followed the same line, growing 0.8% MoM and retreating 1.4% YoY. It is worth noting that all of the prints exceeded previous estimates. Further data showed that the trade deficit widened to £9.41 billion from £8.168 billion.

At the moment, the pair is losing 0.16% at 0.8515 with the next support at 0.8475 (MA10d) followed by 0.8464 (low Apr.8) and finally 0.8436 (low Apr.4).
On the flip side, a breakout of 0.8565 (high mar.25) would expose 0.8570 (high Mar.21) and then 0.8581 (MA55d).

UK: Annual Industrial Production dips 2.2% in February

Year-over-year UK Industrial Production fell by 2.2% in February, following a 3.1%% drop in January, National Statistics informed on Tuesday. This is a more positive result that the forecasted 2.8% decrease. UK Industrial Production rose by 1% between January 2013 and February 2013, in comparison with the 1.3% decline registered between December 2012 and January 2013 and above expectations of a 0.3% rise.
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