EUR/GBP sell towards 0.7980 – Westpac

By FXstreet.com | 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 testing lows in 0.7880
    Forex News

    EUR/GBP testing lows in 0.7880

  2. USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles
    Forex News

    USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles

  3. EUR/GBP attacking 0.7880 support
    Forex News

    EUR/GBP attacking 0.7880 support

  4. EUR/GBP Continues to Show Weakness
    Investing

    EUR/GBP Continues to Show Weakness

  5. EUR/GBP Technical Analysis: Support Found Below 0.79?
    Forex News

    EUR/GBP Technical Analysis: Support Found Below 0.79?

Trading Center