Currencies  |  December 05, 2012 08:58:44

EUR / GBP indicates a decrease

The British economy is negatively foundation in the form of PMI index in the construction sector. The indicator has dropped by 1.6 points and ended the contraction zone at 49.3 value. Positive mood in the eurozone today support information from the Spanish labor market. In November, the Bureau of Labor enrolled fewer people than originally expected.

Euro recently strengthened against the British pound, but at the moment it looks like the euro are running out of power. Euro against the pound creates a longer time interesting technical formation.EUR / GBP is currently somewhere in the tapering upward channel, creating so-called wedge, which is often regarded as a breakthrough in the signal for a short position. The likelihood of us adds bearish divergence that has formed on stochastiku. Entrance to the short position could come by the end of the week.

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