Forex: EUR/GBP sells off during ECB Press Conference

FXstreet.com (Barcelona) - EURGBP has accelerated its daily decline during the ECB Press Conference following commentary President Draghi confirmed that there was wide spread discussion on a rate cut but the prevailing consensus was to remain unchanged.

The decline came after a bleak policy statement confirmed suspicions that the bank would slash growth forecasts and and expect the soft performance to continue into 2013. Draghi also confirmed that the ECB did not have a deep discussion regarding the Greek buyback programme. Spot declined to post a low at 0.8090, just above daily classic S2 support at 0.8087.