The U.K Manufacturing Production rose 0.5%, from 0.0% a month earlier passing forecast of 0.3% in the last month.
On an annualized basis, manufacturing production rose 1.9% in July, exceeding expectations of 1.7%, after rising by 0.6% the previous month.
The report also showed that industrial production recorded a seasonally adjusted 0.2% rise in July, in line with expectations and a 0.5% increase in the previous month.
Year-over-year, industrial production rose by 0.4% in July, in line with expectations and after a 0.3% increase in the previous month.
Conclusion: This development will keep the bullish tone intact, buying the pair on dips still recommended, support levels are 1.3115, 1.3060, 1.3030 while the main resistance remains at 1.3165 levels where a corrective pullback is very likely…