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Forex pairs in this Article » EUR/GBP (Barcelona) - The EUR/GBP is bouncing nicely Thursday as the euro has found some sudden strength here at the end of this holiday week. Resistance at 0.8391 looms, though.

EUR/GBP getting a lift Friday despite lack of data flow

The end of the Christmas holiday week is bringing some unexplained and unexpected euro strength – especially given the absence of any data catalysts on Friday’s schedule. Next week’s schedule for Europe and Britain includes several meaningful data points, including:

• Monday: British Housing Prices; German Retail Sales
• Tuesday: No data
• Wednesday: Everything closed for New Year’s
• Thursday: German, European and British Manufacturing PMI data
• Friday: British Consumer Credit; British Mortgage Approvals; British Lending Data; British Construction PMI;
EuroZone CPI data.

Technical outlook for EUR/GBP

Technicians say the EUR/GBP is bouncing Friday after testing short-term support at 0.8329 Thursday. Additonal support comes into play at the 11/7 low of 0.8299. Resistance for the cross comes in at the Fibonacci retracements of 0.8391, 0.8397 and 0.8414.
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