Forex: GBP/USD declines from high into Draghi conference
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - GBPUSD is approaching the daily pivot point at 1.6030 as ECB President Draghi starts his press conference.
Having moved off its morning high at 1.6070, spot has sold off as the BoE voted to keep rates and asset purchases on hold. Spot is currently looking to push past short term support at the hourly 55 MA at 1.6041. RSI is at 53 and moving with a short term downside bias. Looking to Europe, the ECB froze rates at 0.75% and in his speech Draghi notes that he sees inflation falling below 2% and risks are 'broadly balanced' in 2013 alongside economic weakness. He sees downside risks from the slow implementation of structural reforms and geopolitical issues and upside dangers from increases in prices.
Having moved off its morning high at 1.6070, spot has sold off as the BoE voted to keep rates and asset purchases on hold. Spot is currently looking to push past short term support at the hourly 55 MA at 1.6041. RSI is at 53 and moving with a short term downside bias. Looking to Europe, the ECB froze rates at 0.75% and in his speech Draghi notes that he sees inflation falling below 2% and risks are 'broadly balanced' in 2013 alongside economic weakness. He sees downside risks from the slow implementation of structural reforms and geopolitical issues and upside dangers from increases in prices.
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