Forex: EUR/GBP upside capped at 0.8080

FXstreet.com (Barcelona) - Choppy session for the pair so far, although a rebound of todays lows below 0.8050 lacked of impetus to follow through 0.8080, retreating afterwards to the actual area of 0.8070

Daving Song, Currency Analyst at DailyFX, commented "with the ECB and the BoE interest rate decisions out of the way, the dovish tone held my President Mario Draghi reinforces our bearish outlook fro the EURGBP, and we will look to sell a rebound in the exchange rate amid the deviation in the policy outlook. In turn, we attempt to short the EURGBP on a move back towards the 0.8100 figure."

At the moment, the pair is losing 0.09% en 0.8071 with the immediate support lying at 0.8054% (50% of 0.7961-0.8147) ahead of 0.8032 (61.8% of 0.7961-0.8147) and then 0.8007 (low Nov.21).
On the flip side, a surpass of 0.8144 (Upper Bollinger) would open the door to 0.8147 (high Oct.24) and 0.8160 (high Oct.23).