Today we got some data from the UK and European countries. The most important one was UK's manufacturing production for November, which came in at a reading of 0.7% growth. This was a turnaround from the -0.7% in October, and beat forecasts around a 0.4% print. Overall industrial production fell 0.1% in November, mainly due to unexpected maintenance at some North Sea oil fields. The goods trade deficit narrowed from -9.8B pounds to -8.8B. This was mainly due to a drop in imports, which fell 3.2%. while oil imports plunged 18.7% to the lowest level since Oct. 2010. BoE: After some slowing in Q3, it seems like there was some pick up in the momentum of UK's recovery in Q4. Still the MPC is expected to hold out the entire year before considering raising rates. The BoE interest rate policy statement from Thursday reveals that Carney is expect inflation to fall below 1%.Now we also saw German and French industrial production data, which disappointed. These data points should not shake things up too much, but they did help EUR/GBP continue to complete a bearish continuation signal out of this week's price action.EUR/GBP Daily Chart(click to enlarge) The daily chart shows that EUR/GBP started the year breaking the 2014-low but immediately pulled back, so the breakout is unclear.This week, after the pullback, EUR/GBP found resistance at recent resistance pivots as well as the 50-day SMA. With the prevailing trend bearish in 2014 before the multi-month triangle consolidation, EUR/GBP still looks bearish, and looks ready for another dip.EUR/GBP 1H Chart 1/9(click to enlarge) The 1H chart shows that after this week's price action, EUR/GBP appears to have completed a rounded top. The data releases today helped it crack a key support pivot at 0.7793, which opens up the 0.7745 low with risk of breaking lower towards the 0.77 handle. If there is a pullback in the next couple of sessions, price should not break above 0.7830 or this bearish continuation outlook will remain on hold for another week or so of consolidation/bullish correction.