UK: CBI Industrial Trends Survey – Orders (MoM): -23.000

Date (GMT) Event Cons. Actual Previous Oct 24 10:00 CBI Industrial Trends Survey – Orders (MoM) -6.000 -23.000 -8.000 Read the official report at Confederation of British Industry News Forex: EUR/GBP falls further after UK data (FXstreet.com) Wed, Oct 24 2012, 10:14 GMT United Kingdom Oct CBI Industrial Trends Survey – Orders (MoM): -23 vs -8 (Sep) (FXstreet.com) Wed, Oct 24 2012, 10:00 GMT

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UK: CBI Industrial Trends Survey – Orders (MoM): -23.000

The ‘financial week’ begins today …

Review: A few poor economic indicators from Spain as well as some problems caused by one of the coalition partners in the Greek government in respect of the current negotiations with the Troika (EU/IMF/ECB) sent negative waves through the financial markets. As expected the Bank of Canada did not change its interest rate and softened its rhetoric – CAD strengthened against USD. The overnight HSBC PMI data for manufacturing industry in China came out at 49.1 against 47.9 the last time. AUD

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The ‘financial week’ begins today …

GBPUSD Three Inside Down Hourly Chart

Resistance: 1.6013 moderate/1.6073 minor/1.6123 minor Support: 1.5963 strong/1.5902 moderate/1.5852 minor GBPUSD is generally bullish with a high level bearish reversal pattern Three Inside Down in Hourly charts just above a strong support level at 1.5963, the Pivot Point. Look to sell on a push under 1.5963 with stop losses just above the Three Inside Down high. Our immediate objective is 1.5902 break of which may see us dropping to 1.5852. Learn more about the chart patterns and how to

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GBPUSD Three Inside Down Hourly Chart