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EUR/GBP backs away from 1-month high

FXStreet (Córdoba) - EUR/GBP turned lower during the American session and backed away from a fresh 1-month high weighed by Draghi's dovish comments.

Among remarks, Draghi reiterated downside risks for the economy and said the bond buying program could include to government bonds. The reference to full QE weighed on the shared currency.

EUR/GBP dropped to a daily low of 0.7856 in recent dealings and continues to hover near lows, recording a 0.36% loss on Monday. EUR/GBP had reached a daily high of 0.8002 during the Asian session, but failed to sustain gains.

Immediate support stands at 0.7934 (Nov 14 low), while if the pair breaks decisively above 0.8000, next hurdle is seen at 0.8026 (Oct 16 high).

United States 6-Month Bill Auction rose from previous 0.06% to 0.07%

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