Back
22 Jan 2015
EUR/GBP navigating the low-0.7600s
FXStreet (Edinburgh) - EUR/GBP remains in the low-0.7600s following the ECB launch of its QE programme.
EUR/GBP generally unchanged post-ECB
The European cross kept, in general, its recent range after the ECB finally delivered its QE programme. In it, the central bank announced an expanded asset purchase programme for ABS and covered bonds at a monthly pace of €60 billion, starting in March and until September 2016. He also stressed that the current decision should push inflation figures higher, and he sees consumer prices recovering in late 2015 and into 2016.
EUR/GBP relevant levels
The cross is now losing 0.46% at 0.7622 with the next support at 0.7596 (low Jan.16) ahead of 0.7567 (up trend line from 2000-2007 lows) and then 0.7535 low Feb.27 2008). On the upside, a breakout of 0.7703 (38.2% of 0.7875-0.7596) would expose 0.7741 (10-d MA) and finally 0.7747 (high Jan.15
EUR/GBP generally unchanged post-ECB
The European cross kept, in general, its recent range after the ECB finally delivered its QE programme. In it, the central bank announced an expanded asset purchase programme for ABS and covered bonds at a monthly pace of €60 billion, starting in March and until September 2016. He also stressed that the current decision should push inflation figures higher, and he sees consumer prices recovering in late 2015 and into 2016.
EUR/GBP relevant levels
The cross is now losing 0.46% at 0.7622 with the next support at 0.7596 (low Jan.16) ahead of 0.7567 (up trend line from 2000-2007 lows) and then 0.7535 low Feb.27 2008). On the upside, a breakout of 0.7703 (38.2% of 0.7875-0.7596) would expose 0.7741 (10-d MA) and finally 0.7747 (high Jan.15