FXstreet.com (Barcelona) - EUR/GBP is currently at 0.8312, giving back some of the gains the cross has made till recent fresh 9-month highs at 0.8326, due to Euro weakness over Pound. EUR/GBP is still up +0.47% for the week, and +2.23% year to date, finding momentary resistance at the roof of the ascending channel is in since bottoming out by mid July 2012 at 0.7757.
Tuesday will be a very busy day for the Pound side of the equation for the London session ahead, given a lot of data will be released at 09:30 GMT including key UK CPI figures on yearly basis, and BoE King will speak at 10:00 GMT, at the same time the EU puts out its trade balance numbers. Not only that, but BoE inflation letter looms also in the calendar as tentative, so volatility might start to pick up again in this cross.
Immediate resistance to the upside for EUR/GBP shows at mentioned 9-month highs 0.8326, followed by Dec 27 2011 lows at 0.8332, and April 03 highs at 0.8358. To the downside, nearest term support lies at Friday's highs 0.8286, followed by Dec 27 highs 0.8229, and Dec 24 highs at 0.8186.
Tuesday will be a very busy day for the Pound side of the equation for the London session ahead, given a lot of data will be released at 09:30 GMT including key UK CPI figures on yearly basis, and BoE King will speak at 10:00 GMT, at the same time the EU puts out its trade balance numbers. Not only that, but BoE inflation letter looms also in the calendar as tentative, so volatility might start to pick up again in this cross.
Immediate resistance to the upside for EUR/GBP shows at mentioned 9-month highs 0.8326, followed by Dec 27 2011 lows at 0.8332, and April 03 highs at 0.8358. To the downside, nearest term support lies at Friday's highs 0.8286, followed by Dec 27 highs 0.8229, and Dec 24 highs at 0.8186.
