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Forex pairs in this Article » EUR/GBP (Barcelona) - The EUR/GBP is hovering just above the flat line Thursday after a sell-off the likes of which has not been seen in this pair since this past April.

EUR/GBP traders have a few data points to which they can react Thursday

Stronger British data and weaker European data combined to take the euro down hard against the Pound for the session on Wednesday. Obviously, until the European session arrives, there’s not much to inspire any real change of direction yet. However, Thursday’s economic data points due out that may have an impact on the EUR/GBP include:

• European Council Meeting
• EuroZone Current Account
• and, British Retail Sales

Technical outlook for EUR/GBP

Technicians say the EUR/GBP cross may have set a short-term high at Fibonacci “correction resistance” at 0.8454 on Wednesday. The next resistance for the cross on a breakout would come in at the next Fibonacci projection line at 0.8493. Support for the cross comes in at Thursday’s low at 0.8343 and is backed up by the 11/7 low at 0.8299.
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