The only relevant data from midday were British publications on several important indicators for December. Among them was included information on industrial production, factory goods and the trade balance – all turned out to be better than expected, and virtually all the results of the November were positively revised.

Forex_Economic_Calendar_Myfxbook_-_2017-02-10_11.31.35
How can be seen in the image above most important publication – the production of goods in factories – recorded a strong dynamic jump at the end of last year. As a result on pound sterling we could observe short-term gains.

Immediately after the data GBP/USD gained over 30 pips reaching intraday highs that caused reflection in opposite direction:

GBPUSD M5
GBPUSD M5

On EURGBP situation is very similar. With this difference, that the price temporarily succeeded to draw new lows of the session. At this point, we are on the daily Pivot:

EURGBP M5
EURGBP M5
Error, group does not exist! Check your syntax! (ID: 3)