Chart - Courtesy Trading View
Technical Analysis:
- EUR/GBP was trading 0.70% lower on the day at 0.8782 at around 12:50 GMT
- Chikou span is biased lower, MACD supports downside in the pair
- GMMA indicator shows major trend is bullish, while minor trend is turning bullish
- Momentum is bearish, Stochs are near oversold levels and RSI is biased lower
Data Released:
Data released earlier today showed UK Gross Domestic Product (GDP) contracted 0.3% MoM in August, missing 0% expectations and 0.2% previous.
Meanwhile, the Index of services (August) came in at -0.1% 3M/3M vs. 0.2% estimate and -0.2% prior.
UK industrial sector recovery also lost momentum in August, the latest data published by Office for National Statistics (ONS) showed on Wednesday.
UK Manufacturing output fell to -1.6% MoM in August missing 0% expectations and 0.1% prior, while total industrial output came in at -1.8% vs. -0.2% expected and -0.3% last.
On an annualized basis, the UK manufacturing production figures printed at -6.7% in August, missing expectations of 0.8%.
Total industrial output plunged by 5.2% in same month against a 0.6% reading expected and the previous 1.1% print.
On the other side, Eurozone’s Industrial Production increased more than expected in August, the official data published by Eurostat showed on Wednesday.
Eurozone’s industrial output jumped by 1.5% MoM vs. a 0.6% increase expected and -2.3% last.
On an annualized basis, the industrial output rose by 2.5% in August versus a 1.2% rise expected and July -2.5%.
Major Support and Resistance Levels:
Support levels - 0.8760 (21-EMA), Resistance levels - 0.8803 (5-week MA)
Summary: EUR/GBP extends choppy trade above 21-EMA support. Technical indicators do not provide a clear directional bias.


FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/ZAR recovers some ground but outlook is bearish
FxWirePro: GBP/NZD recovers some ground but bearish outlook persists
FxWirePro- Major Crypto levels and bias summary
EURJPY Extends 5-Day Winning Streak Toward 186 — Bulls Reload on Dips for 188 Target
FxWirePro: GBP/NZD extends decline , vulnerable to more downside
FxWirePro- Major Crypto levels and bias summary
EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
FxWirePro: USD/CAD bulls continue to hold the higher ground
FxWirePro: GBP/USD edged higher as hopes for US-Iran deal boost riskier assets
FxWirePro: USD/ZAR sell bias remains below key resistance zone
NZDJPY Dips to 95.10: Bulls Buy the Pullback as Key 93.50 Support Keeps Uptrend Intact
ETH Cracks Below $2K: $241M ETF Selloff Sparks 14-Day Exodus as Bears Target $1,700
BTC Craters Below All Key EMAs: $2.63B ETF Selloff Triggers 'Sell on Rallies' to $67K
FxWirePro: AUD/USD steadies around 0.7185, US-Iran news remains key 



