Here are the key factors to keep in mind today for Euro trades:

• German GDP: The Final German GDP for the third-quarter increased by 0.8% quarterly and by 2.3% annualized. Economists predicted an increase of 0.8% quarterly and of 2.3% annualized. Forex traders can compare this to the first German GDP report for the third-quarter which increased by 0.8% quarterly and by 2.3% annualized. Exports increased by 1.7% and Imports increased by 0.9%. Economists predicted an increase of 1.1% and of 0.8%. Forex traders can compare this to the first data on Exports which increased by 1.0% and Imports which increased by 2.4%. German Private Consumption decreased by 0.1% and German Domestic Demand increased by 0.4%. Economists predicted an increase of 0.2% and of 0.6%. Forex traders can compare this to the first data on German Private Consumption which increased by 0.9% and to German Domestic Demand which increased by 1.2%. German Government Spending was reported flat at 0.0%. Economists predicted an increase of 0.2%. Forex traders can compare this to the first data on German Government Spending which increased by 0.2%. German Capital Investment increased by 0.4% and German Construction Investment decreased by 0.4%. Economists predicted an increase of 1.4% and a decrease of 0.2%. Forex traders can compare this to the first data on German Capital Investment which increased by 1.5% and to German Construction Investment which increased by 0.5%.
• French Manufacturing PMI, Services PMI and Composite PMI: The Preliminary French Markit Manufacturing PMI for November is predicted at 55.9. Forex traders can compare this to the French Markit Manufacturing PMI for for October which was reported at 56.1. The Preliminary French Markit Services PMI for November is predicted at 57.0. Forex traders can compare this to the French Markit Services PMI for for October which was reported at 57.3. The Preliminary French Markit Composite PMI for October was reported at 57.2. Forex traders can compare this to the French Markit Composite PMI for for October which was reported at 57.4.
• German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for November is predicted at 60.3. Forex traders can compare this to the German Markit Manufacturing PMI for for October which was reported at 60.6. The Preliminary German Markit Services PMI for November is predicted at 55.0. Forex traders can compare this to the German Markit Services PMI for for October which was reported at 54.7. The Preliminary German Markit Composite PMI for November is predicted at 56.7. Forex traders can compare this to the German Markit Composite PMI for for October which was reported at 56.6.
• Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for November is predicted at 58.2. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for October which was reported at 58.5. The Preliminary Eurozone Markit Services PMI for November is predicted at 55.2. Forex traders can compare this to the Eurozone Markit Services PMI for for October which was reported at 55.0. The Preliminary Eurozone Markit Composite PMI for November is predicted at 55.9. Forex traders can compare this to the Eurozone Markit Composite PMI for for October which was reported at 56.0.

Here are the key factors to keep in mind today for British Pound trades:

• UK GDP: The UK Preliminary GDP for the third-quarter is predicted to increase by 0.4% quarterly and by 1.5% annualized. Forex traders can compare this to the second-quarter GDP which increased by 0.4% quarterly and by 1.5% annualized. Private Consumption for the third-quarter is predicted to increase by 0.4% quarterly, Government Spending by 0.3% quarterly and Gross Fixed Capital Formation by 0.3% quarterly. Forex traders can compare this to second-quarter Private Consumption which increased by 0.1% quarterly, to Government Spending which increased by 0.6% quarterly and to Gross Fixed Capital Formation which increased by 0.7% quarterly. UK Exports are predicted to decrease by 0.8% quarterly and UK Imports are predicted to increase by 0.9% quarterly. Forex traders can compare this to second-quarter UK Exports which increased by 0.7% quarterly and to UK Imports which increased by 0.7% quarterly. UK Total Business Investment for the third-quarter is predicted to increase by 0.3% quarterly and by 1.4% annualized. Forex traders can compare this to UK Total Business Investment for the second-quarter which increased by 0.5% quarterly and by 2.5% annualized.
• UK Index of Services: The UK Index of Services for September is predicted to increase by 0.2% monthly and by 0.4% monthly over the three months-over-three months period which ended September. Forex traders can compare this to the UK Index of Services for August which increased by 0.2% monthly and by 0.4% monthly over three months-over-three months period which ended August.
• UK CBI Retailing Reported Sales and CBI Total Distributed Reported Sales: UK CBI Retailing Reported Sales for November are predicted at 3 and CBI Total Distributed Reported Sales are predicted at 2. Forex traders can compare this to UK CBI Retailing Reported Sales for October which were reported at -36 and to CBI Total Distributed Reported Sales which were reported at 1.

Should price action for the EURGBP remain inside the or breakout above the 0.8875 to 0.8925 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.8890
• Take Profit Zone: 0.9010 – 0.9050
• Stop Loss Level: 0.8845

Should price action for the EURGBP breakdown below 0.8875 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.8845
• Take Profit Zone: 0.8735 – 0.8780
• Stop Loss Level: 0.8890

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