EUR/GBP – Key support holding

A bullish sign?

With each the ECB and BoE conferences now behind us, how can we assess the impression on the currencies and what it means going ahead?

Curiously, there have been no main surprises on both facet. The BoE moved barely earlier whereas the ECB tweaked its asset purchases, with the consequence being that the PEPP involves an finish in March whereas the help it offered is simply slowly phased out over a further six months.

When it comes to the technicals, there may additionally be some attention-grabbing takeaways. The spike decrease yesterday noticed the pair run into help across the 61.8 fib (4-hour chart) earlier than rapidly recovering to sit down again above the 50 fib and 200/233-period SMA band.

This had been key help previous to the conferences and stays so now. If 0.85 holds, it may probably be a really bullish sign going into the brand new 12 months. One other failure and the long-term downtrend could proceed.

This text is for basic info functions solely. It isn’t funding recommendation or an answer to purchase or promote securities. Opinions are the authors; not essentially that of OANDA Company or any of its associates, subsidiaries, officers or administrators. Leveraged buying and selling is excessive threat and never appropriate for all. You can lose your whole deposited funds.

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