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EUR/GBP at daily highs ahead of BoE/ECB

FXStreet (Córdoba) - EUR/GBP is on the rise, having hit fresh daily highs, as investors gear up for today’s key events: the BoE and the ECB policy verdicts at 12:00 GMT and 12:45 GMT respectively.

While both banks are expected to maintain the status quo, ECB President Draghi’s speech will attract market’s attention and may gave the euro fresh direction.

EUR/GBP rose to a daily high of 0.7855 mainly driven by pound weakness and it is currently trading at 0.7850, recording a 0.5% gain ahead of central banks' verdicts.

EUR/GBP levels to watch

On the upside, EUR/GBP could find immediate resistances at 0.7865 (Nov 5 high), 0.7883/87 (Oct 31 high/20-day SMA) and 0.7900 (psychological level). On the downside, supports could be found at 0.7800/0.7798 (psychological level/Nov 3 low), 0.7789 (Oct 2 low) and 0.7766 (2014 low Oct 1).

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