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31 Dec 2013
EUR/GBP remains in suspense right between support at 0.8329 and resistance at 0.8391
FXstreet.com (Barcelona) - The EUR/GBP cross is working back towards unchanged for the session – which will be just fine for most traders.
EUR/GBP traders have to wait until Thursday for any guidance from new data
The EUR/GBP is biding time waiting for the New Year’s holiday by drifting back down towards the flat line for the session. With no data due out from Europe or Britain until Thursday, traders may be content to sit out the rest of the session without a fight.
The schedule for Europe and Britain for the rest of the week includes several meaningful data points:
• 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 trading right in between short-term support at 0.8329 and short-term resistance at 0.8391. Additional support comes into play at the 11/7 low of 0.8299. Additional resistance for the cross comes in at the 12/17 high of 0.8465.
EUR/GBP traders have to wait until Thursday for any guidance from new data
The EUR/GBP is biding time waiting for the New Year’s holiday by drifting back down towards the flat line for the session. With no data due out from Europe or Britain until Thursday, traders may be content to sit out the rest of the session without a fight.
The schedule for Europe and Britain for the rest of the week includes several meaningful data points:
• 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 trading right in between short-term support at 0.8329 and short-term resistance at 0.8391. Additional support comes into play at the 11/7 low of 0.8299. Additional resistance for the cross comes in at the 12/17 high of 0.8465.