2 Oct 2014
EUR/GBP consolidates around 0.7850
FXStreet (Córdoba) - The euro rose sharply against the pound on Thursday, having the best day in a month. EUR/GBP started to rise ahead of the ECB decision and moved with an upside bias during the rest of the day.
During New York EUR/GBP peaked at 0.7857, the highest price since September 23 and then pulled back slightly, to finish the session hovering around 0.7850.
A short term bottom?
The pair rose for the second day in a row and continues to recover after hitting 2-year lows, on Wednesday at 0.7762.
The recent rally brought the price back above the level it had at the beginning of the week and now EUR/GBP is headed toward the first weekly gain, after falling in the previous three.
During New York EUR/GBP peaked at 0.7857, the highest price since September 23 and then pulled back slightly, to finish the session hovering around 0.7850.
A short term bottom?
The pair rose for the second day in a row and continues to recover after hitting 2-year lows, on Wednesday at 0.7762.
The recent rally brought the price back above the level it had at the beginning of the week and now EUR/GBP is headed toward the first weekly gain, after falling in the previous three.