1 Aug 2013
EUR/GBP bounces at 0.8675 as Draghi speaks
FXstreet.com (San Francisco) - After declining hard from 0.8725 to reach fresh intra-day lows at 0.8675 following the ECB decision to keep unchanged its interest rate at 0.5%, the EUR/GBP found support at this level with the pair recovering back to trade around 0.8700 as the Draghi's conference started.
Currently, the EUR/GBP is trading around 0.8695, 0.55% negative on the day. The short term however, remains strongly bearish according to the FXstreet.com Trend Index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
EUR/GBP technical levels
As for technical levels, if EUR/GBP falls below 0.8675, next supports are seen at 0.8650 (10-day SMA) and 0.8620 (Jul 22 low). On the other hand, resistances could now be found at 0.8710 (intraday level) and 0.8770 (daily high).
Currently, the EUR/GBP is trading around 0.8695, 0.55% negative on the day. The short term however, remains strongly bearish according to the FXstreet.com Trend Index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
EUR/GBP technical levels
As for technical levels, if EUR/GBP falls below 0.8675, next supports are seen at 0.8650 (10-day SMA) and 0.8620 (Jul 22 low). On the other hand, resistances could now be found at 0.8710 (intraday level) and 0.8770 (daily high).