Forex: EUR/GBP flat around 0.8150 ahead of BoE/ECB
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - The EURGBP cross has been around the current 0.8147 level since late Monday in NY, inside of a 0.8134/62 thin range, slightly positive for the week, up +0.13% so far. The cross had a weekly start to the downside reaching as low as 0.8104 in early Monday NY trade, bouncing from there till current levels by late same Monday, and staying flat ever since.
The fact that both BoE and ECB meetings are due today might explain something. Even though most market participants don't expect major changes in monetary policies in either front, market sources say, there is still a chance of a surprise move from any of the central banks, which might sparkle some volatility, something not seen in last 60 hours. BoE is out at 12:00 GMT, and ECB will be 45 minutes later, followed by the press conference at 13:30 GMT.
Immediate resistance to the upside for EURGBP shows at yesterday's weekly high 0.8162, followed by Dec 19 highs/Dec 28 lows at 0.8168, and Dec 24 highs/Dec 27 lows at 0.8185. To the downside, closest support lies at yesterday's lows 0.8133, followed by Dec 21 lows at 0.8114, and Dec 31/Monday's lows at 0.8104.
The fact that both BoE and ECB meetings are due today might explain something. Even though most market participants don't expect major changes in monetary policies in either front, market sources say, there is still a chance of a surprise move from any of the central banks, which might sparkle some volatility, something not seen in last 60 hours. BoE is out at 12:00 GMT, and ECB will be 45 minutes later, followed by the press conference at 13:30 GMT.
Immediate resistance to the upside for EURGBP shows at yesterday's weekly high 0.8162, followed by Dec 19 highs/Dec 28 lows at 0.8168, and Dec 24 highs/Dec 27 lows at 0.8185. To the downside, closest support lies at yesterday's lows 0.8133, followed by Dec 21 lows at 0.8114, and Dec 31/Monday's lows at 0.8104.
Free Annual Reports
