8 May 2014
EUR/GBP collapses amid the ECB better-tomorrow-promise
FXStreet (San Francisco) - The Euro is trading under pressure across the board as investor bought the Draghi's commentary that the ECB was “comfortable with acting next time”, meaning June.
After an initial rally to 0.8250 following an apparently nonevent speech, the EUR/GBP collapsed 80 pips to break below the 0.8200 level and to reach nearly 3-month low around 0.8165.
Currently, EUR/GBP is trading at 0.8172, down 0.39% on the day, having posted a daily high at 0.8251 and low at 0.8168. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
EUR/GBP levels
Below the 0.8170, the EUR/GBP would face further supports at 0.8160 and 0.8100; on the upside, resistances are seem at 0.8190, 0.8200 and 0.8210.
After an initial rally to 0.8250 following an apparently nonevent speech, the EUR/GBP collapsed 80 pips to break below the 0.8200 level and to reach nearly 3-month low around 0.8165.
Currently, EUR/GBP is trading at 0.8172, down 0.39% on the day, having posted a daily high at 0.8251 and low at 0.8168. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
EUR/GBP levels
Below the 0.8170, the EUR/GBP would face further supports at 0.8160 and 0.8100; on the upside, resistances are seem at 0.8190, 0.8200 and 0.8210.