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Forex pairs in this Article » EUR/GBP (Barcelona) - The EUR/GBP is hovering just above important short-term support at 0.8329. Data this week combined with relatively low trading volumes could spurn a sizable move in either direction.

EUR/GBP bulls hoping for some good news out of Europe this week

This week’s schedule for EUR/GBP traders 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 barely holding onto short-term support at 0.8329. Additional support comes into play at the 11/7 low of 0.8299. Resistance for the cross comes in at last week’s high of 0.8391 and then the 12/17 high of 0.8465.
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