EUR/GBP sell towards 0.7980 – Westpac

By FXstreet.com | Updated August 06, 2014 AAA

FXStreet (Edinburgh) - Analyst at Westpac Global Strategy Group noted the offered tone in the EUR, and recommends selling the cross on strength.



Key Quotes



“Draghi’s press conference on Thu should be low key with the ECB in wait and see mode as June’s easing measures filter through the region and with the Bank still focused on implementing TLTRO as well as preparations for outright ABS purchases”.



“That said, Draghi is sure to strike a dovish tone, especially after the 0.4% y/y headline CPI reading”.



“EUR is showing some backbone on multiple crosses, highlighting a shift away from broad EUR weakness to broad USD strength. But we suspect it won’t be long before EUR-cross selling resumes. EUR/GBP a sell into 0.7980”.



comments powered by Disqus
Related Forex Analysis
  1. EUR/GBP supported near 0.7860
    Forex News

    EUR/GBP supported near 0.7860

  2. EUR/GBP Technical Analysis: Torn Between Competing Cues
    Forex News

    EUR/GBP Technical Analysis: Torn Between Competing Cues

  3. EUR/GBP at the roof of current range
    Forex News

    EUR/GBP at the roof of current range

  4. EUR/GBP capped around 0.7900
    Forex News

    EUR/GBP capped around 0.7900

  5. EUR/GBP Technical Analysis: Upside Capped at 0.79 Figure
    Forex News

    EUR/GBP Technical Analysis: Upside Capped at 0.79 Figure

Trading Center