22 Jan 2015
EUR/GBP keeps the range post-ECB
FXStreet (Edinburgh) - EUR/GBP remains in the mid-0.7600s following the ECB interest rate decision on Thursday.
EUR/GBP faces further uncertainty ahead
The European cross kept the composure after the European Central Bank left intact the refi rate at 0.05% and the Deposit Facility Rate at -0.20%, broadly in line with consensus expectations. The ECB informed that further measures will be announced later, in the press conference by President M.Drgahi.
EUR/GBP relevant levels
The cross is now losing 0.10% at 0.7649 with the next support at 0.7596 (low Jan.16) ahead of 0.7567 (up trend line from 2000-2007 lows) and then 0.7535 low Feb.27 2008). On the upside, a breakout of 0.7703 (38.2% of 0.7875-0.7596) would expose 0.7741 (10-d MA) and finally 0.7747 (high Jan.15).
EUR/GBP faces further uncertainty ahead
The European cross kept the composure after the European Central Bank left intact the refi rate at 0.05% and the Deposit Facility Rate at -0.20%, broadly in line with consensus expectations. The ECB informed that further measures will be announced later, in the press conference by President M.Drgahi.
EUR/GBP relevant levels
The cross is now losing 0.10% at 0.7649 with the next support at 0.7596 (low Jan.16) ahead of 0.7567 (up trend line from 2000-2007 lows) and then 0.7535 low Feb.27 2008). On the upside, a breakout of 0.7703 (38.2% of 0.7875-0.7596) would expose 0.7741 (10-d MA) and finally 0.7747 (high Jan.15).