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9 Jan 2014
EUR/GBP falls to fresh 1-year low on Draghi's comments
FXstreet.com (Córdoba) - The EUR/GBP fell to a fresh 1-year low after European Central Bank President Draghi dovish comments.
In a speech that followed the ECB decision to keep policy unchanged, Draghi highlighted downside risks and said the bank will take decisive action if needed. The EUR/GBP broke below the 0.8250/40 zone and stretched to 0.8229 where it scored its lowest in a year. At time of writing, the EUR/GBP is trading at the 0.8240 zone, still 0.3% below its opening price.
EUR/GBP technical levels
In terms of technical levels, the EUR/GBP could find immediate supports at 0.8239 (daily low), and 0.8202 (Jan 11 2013 low). On the flip side, resistances are seen at 0.8275 (daily high), 0.8315 (Jan 8 high) and 0.8330 (Jan 6 high).
In a speech that followed the ECB decision to keep policy unchanged, Draghi highlighted downside risks and said the bank will take decisive action if needed. The EUR/GBP broke below the 0.8250/40 zone and stretched to 0.8229 where it scored its lowest in a year. At time of writing, the EUR/GBP is trading at the 0.8240 zone, still 0.3% below its opening price.
EUR/GBP technical levels
In terms of technical levels, the EUR/GBP could find immediate supports at 0.8239 (daily low), and 0.8202 (Jan 11 2013 low). On the flip side, resistances are seen at 0.8275 (daily high), 0.8315 (Jan 8 high) and 0.8330 (Jan 6 high).