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EUR/GBP chart - Trading View
EUR/GBP was trading rangebound on the day with session highs at 0.8533 and lows at 0.8522.
The British pound was unimpressed by upbeat Q4 GDP data released earlier today.
Final UK Q4 GDP came in at 1.3% QoQ vs. 1.0% expected and 1.0% last while on an annualized basis the figure stood at -7.3% vs. -7.8% expected and -7.8% seen previously.
The Current Account numbers for Q4 came in at GBP-26.3 B versus GBP-34 B expected and GBP -14.275 B prior.
Meanwhile, the Total Business Investment arrived at 5.9% QoQ in Q4 vs. 1.3% previous and 1.3% expectations.
Technical bias for the pair remains bearish. MACD is on verge of bearish crossover on signal line.
Price action has slipped below 76.8% Fib and is on track to test next major support at 110-month EMA at 0.8464 ahead of 88.6% Fib at 0.8415.
