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Forex: EUR/GBP retraces from highs, around 0.8625/30

The pair is basically following the EUR momentum, as the sterling remains stuck around 1.5470/75 against the buck. After topping in the 0.8650 region, the pair is now easing some ground to 0.8625/30 although it would be posed for further upside following the expected weakness for the pound.

The next big event for GBP would be the BoE minutes due on Wednesday, which could be another source of bearishness for the pound.

At the moment, EUR/GBP is up 0.20% at 0.8628 with the next resistance at 0.8667 (high Feb.14) ahead of 0.8684 (high Feb.13) and then 0.8701 (high Feb.4).
On the downside, a dip below 0.8575 (low Feb.15) would aim for 0.8572 (low Feb.13) en route to 0.8557 (MA21d).

Forex Flash: External demand keeps Chinese economy churning – NAB

As is usually the case for this time of year, the seasonal impacts from the Lunar New Year (LNY) holiday are reaping havoc with China’s economic data. In addition to the obvious seasonal impacts, statistical authorities also refrain from releasing some of the more closely watched statistics on economic activity for January.
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