5 Mar 2014
EUR/GBP supported above 0.8200 ahead of BoE and ECB
FXStreet (Córdoba) - The Euro is having the worst daily performance since mid February against the Pound, after being unable to rally despite better-than-expected economic data from the Eurozone.
The EUR/GBP dropped during the European session falling from 0.8240, bottomed on American hours at 0.8203, the lowest price since last Friday. In the last hours the pair has remained steady, moving between 0.8215/20 and above 0.8200.
The short-term bias remains bearish with the pair retreating after finding resistance last week at 0.8270. In the previous two trading day the EUR/GBP rose slightly but lost gains in just a few hours.
On Thursday the Bank of England and the European Central Bank will announce its decisions on monetary policy. No change is expected but some analysts see chances of a rate cut in the ECB.
The EUR/GBP dropped during the European session falling from 0.8240, bottomed on American hours at 0.8203, the lowest price since last Friday. In the last hours the pair has remained steady, moving between 0.8215/20 and above 0.8200.
The short-term bias remains bearish with the pair retreating after finding resistance last week at 0.8270. In the previous two trading day the EUR/GBP rose slightly but lost gains in just a few hours.
On Thursday the Bank of England and the European Central Bank will announce its decisions on monetary policy. No change is expected but some analysts see chances of a rate cut in the ECB.