Our best spreads and conditions
Learn more
Forex News
Back
4 Feb 2013
Forex: EUR/GBP in session lows, around 0.8615/10
Renewed bearishness surrounding the sterling and the single currency is dragging the cross to session lows in the region of 0.8615/10 on Monday.
The pair is posed to face pressure ahead of the ECB and BoE MPC meetings due later this week. While the ECB is expected to remain in the sidelines, a more dovish tone in the BoE statement could weight on the sterling, thus boosting the pair. In addition, GBP traders would closely follow M.Carney’s speech before the Treasury Select Committee and his intentions to adopt a nominal GDP target, replacing the actual inflation target.
At the moment, EUR/GBP is losing 0.93% at 0.8618 facing the next support at 0.8565 (low Feb.1) followed by 0.8545 (MA10d).
On the upside, a breakout of 0.8701 (hourly high Feb.4) would lead to 0.8717 (high Feb.1).
The pair is posed to face pressure ahead of the ECB and BoE MPC meetings due later this week. While the ECB is expected to remain in the sidelines, a more dovish tone in the BoE statement could weight on the sterling, thus boosting the pair. In addition, GBP traders would closely follow M.Carney’s speech before the Treasury Select Committee and his intentions to adopt a nominal GDP target, replacing the actual inflation target.
At the moment, EUR/GBP is losing 0.93% at 0.8618 facing the next support at 0.8565 (low Feb.1) followed by 0.8545 (MA10d).
On the upside, a breakout of 0.8701 (hourly high Feb.4) would lead to 0.8717 (high Feb.1).