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14 May 2014
EUR/GBP bounces on UK claimant count miss
FXStreet (Córdoba) - The EUR/GBP bounced from an over 1-year low to fresh daily highs right after data showed claimant count in UK dropped less than expected in April.
UK claimant count change came in at -25.1K in April versus -30.0K expected and -30.6K registered in March. Even though the main figure is a tad lower than expected, it continues to point to a solid recovery in the UK economy.
Strong fundamental data has been supporting the pound over the last months, leading the Cable to multi-year highs near 1.7000 and the EUR/GBP to over 1-year lows near 0.8100.
EUR/GBP technical levels
At time of writing, the EUR/GBP is trading at 0.8148, nearly flat on the day, with next resistances seen at 0.8172 (May 13 high), 0.8183 (10-day SMA) and 0.8200 (psychological level). On the other hand, supports are seen at 0.8125 (2014 low May 14), 0.8100 (psychological level) and 0.8073 (100-month SMA).
UK claimant count change came in at -25.1K in April versus -30.0K expected and -30.6K registered in March. Even though the main figure is a tad lower than expected, it continues to point to a solid recovery in the UK economy.
Strong fundamental data has been supporting the pound over the last months, leading the Cable to multi-year highs near 1.7000 and the EUR/GBP to over 1-year lows near 0.8100.
EUR/GBP technical levels
At time of writing, the EUR/GBP is trading at 0.8148, nearly flat on the day, with next resistances seen at 0.8172 (May 13 high), 0.8183 (10-day SMA) and 0.8200 (psychological level). On the other hand, supports are seen at 0.8125 (2014 low May 14), 0.8100 (psychological level) and 0.8073 (100-month SMA).