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Forex pairs in this Article » EUR/GBP (Barcelona) - The EUR/GBP is breaking down badly in terms of the technicals – a function of this week’s stream of somewhat sluggish data out of Europe. Friday brings more potentially market-moving data out of Europe and Britain..

EUR/GBP traders have multiple data points to which they can react Friday

The EUR/GBP will likely be pushed around by the following data on Friday:

• German Consumer Confidence Survey
• German PPI
• Bank of England Quarterly Bulletin
• British Consumer Confidence
• British GDP
• British Total Business Investment
• EuroZone Consumer Confidence

Technical outlook for EUR/GBP

Technicians say the EUR/GBP is now seemingly cascading lower after setting a short-term peak on Tuesday / Wednesday. Resistance for the cross comes in at those highs at 0.8464 and is backed up by the 10/29 peak at 0.8584. Support for the cross comes in at the 11/7 low at 0.8299 and is followed up by the 12/2 low at 0.8252.
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