ECB meeting and Draghi’s speech draw the mid-long term route for EURO.
ECB will reduce its bond purchases to € 30 billion starting in January 2018 within the market expectation
Although this decision was meeting with the market’s expectation, an open door to possibility of extension of the purchases may put Euro under pressure more than expected.
On the GBP side, as well as good economic data, inflationary pressures are beginning to be felt.
Thursday BoE interest rates decision will be released. In not in November, for sure in December
On the Daily chart, we see a Cup with Handle formation. EURGBP closed the week below EMA50 and EMA 100. Critical support is 0.87500.
Next targets will be 0.8690 and 0.84720 with the break out of 0.87500
ECB will reduce its bond purchases to € 30 billion starting in January 2018 within the market expectation
Although this decision was meeting with the market’s expectation, an open door to possibility of extension of the purchases may put Euro under pressure more than expected.
On the GBP side, as well as good economic data, inflationary pressures are beginning to be felt.
Thursday BoE interest rates decision will be released. In not in November, for sure in December
On the Daily chart, we see a Cup with Handle formation. EURGBP closed the week below EMA50 and EMA 100. Critical support is 0.87500.
Next targets will be 0.8690 and 0.84720 with the break out of 0.87500
