Forex: EUR/GBP bounces off daily low following ECB rate hold
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - EURGBP has moved off its daily low following the ECB decision to keep rates steady at 0.75%.
In the moments building up to the announcement, the pair had declined to post a daily low at 0.8104, just above the daily classic S1 support level at 0.8102, the hourly 100 MA at 0.8103 and of course, the psychologically round 0.8100 level. The decision is widely in line with expectations although there were those who had suspected that the ECB may surprise the market. However, as always the Policy Statement and subsequent Press Conference will be closed from 13:30 onwards.
In the moments building up to the announcement, the pair had declined to post a daily low at 0.8104, just above the daily classic S1 support level at 0.8102, the hourly 100 MA at 0.8103 and of course, the psychologically round 0.8100 level. The decision is widely in line with expectations although there were those who had suspected that the ECB may surprise the market. However, as always the Policy Statement and subsequent Press Conference will be closed from 13:30 onwards.
Free Annual Reports
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=b2f0acd2005e8447ad871db74258bc6c
