Forex: EUR/GBP near 0.83 again 9 months after

FXstreet.com (Barcelona) - EURGBP is currently printing fresh session highs last at 0.8298, as Euro strength over Pound weakness continues. The cross goes back to early April 2012 levels, up +0.29% for the week so far. Once above the 38.2% Fibo retrace of daily down leg 0.9087/0.7756 at 0.8264, EURGBP is finding resistance at the previous level that worked as support from early year 2012 till early April around the 0.83 handle.

With no major economic news coming out of the UK this morning in London, and a few of minor ones from the Euro area, pretty much all market's attention will focus on FED Bernanke's speech at University of Michigan by 21:00 GMT, same time that NY closes. For the Euro front, Germany will deliver WPI m/m at 07:00 GMT, followed by Italy and EU industrial production at 09:00 and 10:00 GMT respectively. France will try to sell BTF Treasury bills at 13:50 GMT.

Immediate resistance for EURGBP to the upside shows at March 02 lows 0.8310, followed by Dec 27 2011 lows at 0.8332, and April 03 highs at 0.8358. To the downside, nearest term support lies at Dec 27 highs 0.8229, followed by Dec 24 highs at 0.8186, and Jan 08 highs at 0.8162.