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EUR/GBP catching a bounce on short profit taking

FXStreet (Guatemala) - EUR/GBP is trading at 0.7817, up 0.05% on the day, having posted a daily high at 0.7866 and low at 0.7799.

The EUR/GBP ticker is reading back into the green in the forex market space as the pair catches a bounce off the lowest part of the drop post Draghi’s highly dovish statement expressing how much in need the Euro block is. Inflation is staying below 2% target and there is a unanimous board of the central bank that is ready to take action when needed that and including the ABS programme underway.

EUR/GBP noteworthy levels

Current price is 0.7817, with resistance ahead at 0.7828 (Hourly 20 EMA), 0.7828 (Hourly 100 SMA), 0.7829 (Daily Classic PP), 0.7849 (Daily Classic R1) and 0.7856 (Weekly Classic PP). Next support to the downside can be found at 0.7808 (Yesterday's Low) and 0.7799 (Daily Low), 0.7756 (July 2012 lows).

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