The U.K Manufacturing Production rose -0.3%, from -0.6% in the last month, missing forecast of -0.2%.
This development could bring a corrective recovery before the next fall, immediate resistance seen at the 1.3020 levels, a clear break would open the main resistance at the 1.3100 levels….
On the downside, immediate support comes at the 1.2940 levels, a halt is likely but a cut would open 1.2870, further down, support comes at the 1.2820 levels…
Remember, at the moment, the pair is around 1.3000 levels. It’s critical support on the daily timeframe 127.2% Fib extension of (1.3371/1.3102) run, and a psycho number…..so we might see hesitation around this level…
