20 Feb 2015
EUR/GBP: Commitments required for Greek deal to take place
FXStreet (Guatemala) - EUR/GBP is trading at 0.7392 with a high of 0.7429 and a low of 0.7339.
EUR/GBP is offered below the 0.74 handle after sometime during the press conference that started at 20hrs and not 21 hrs as some media reporters had put it. Monday and Tuesday will be the time that Greece have to get what was agreed today in place, and to commit to the reforms that the Eurogroup require for this extension to take place. There has been a four month extension to the bailout programme to offer Greece time to recapitalize their banks and to continue with the reform and reviews of the current agreement where there will be flexibility to allow time to bridge discussions between Eurogroup Greece and EU institutions and Greece for a possible follow up agreement that the IMF will continue to play its roll. Meanwhile, technically, the Elliot wave count on the longer dated charts allows more room to the upside but intraday charts are looking more neutral.
EUR/GBP is offered below the 0.74 handle after sometime during the press conference that started at 20hrs and not 21 hrs as some media reporters had put it. Monday and Tuesday will be the time that Greece have to get what was agreed today in place, and to commit to the reforms that the Eurogroup require for this extension to take place. There has been a four month extension to the bailout programme to offer Greece time to recapitalize their banks and to continue with the reform and reviews of the current agreement where there will be flexibility to allow time to bridge discussions between Eurogroup Greece and EU institutions and Greece for a possible follow up agreement that the IMF will continue to play its roll. Meanwhile, technically, the Elliot wave count on the longer dated charts allows more room to the upside but intraday charts are looking more neutral.