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EUR/GBP still above 0.7300 post-FOMC

FXStreet (Edinburgh) - The consolidative pattern in both the sterling and the single currency is prompting EUR/GBP to keep the trade above the 0.7300 handle on Friday.

EUR/GBP retreats from 0.7340

After climbing as high as the boundaries of 0.7340 in the wake of the FOMC meeting on Thursday, the European cross has receded some ground to stabilize in the low-0.7300s ahead of the opening bell in London.

In the data space, while markets continue to digest the dovish tone from the Fed yesterday, the only release in the euro bloc will be the Current Account figures for the month of July, expected at €21.3 billion.

EUR/GBP key levels

At the moment the cross is losing 0.02% at 0.7285 and a breach of 0.7275 (low Sep.17) would aim for 0.7151 (low Aug.21) and finally 0.7091 (low Aug.20). On the other hand, the next resistance aligns at 0.7362 (high Sep.16) followed by 0.7376 (high Sep.3) and then 0.7398 (high Sep.2).

EUR/USD extends post-FOMC correction, wavers above 1.1400

The EUR/USD pair continues to trade in a side-ways manner as we progress towards the early European morning, as the EUR bulls continue to appreciate the extension of the period of low rates in the US, as unannounced by the Fed yesterday.
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FOMC aftermath: Euro can surge to 1.16, reduction in dollar longs – SocGen

Kit Juckes, Research Analyst at Societe Generale, suggests that the Fed’s decision to leave rates on hold was not a surprise to a market positioned that way but the tone was not dollar supportive but the yield differentials are moving in the Euro’s favour and may take us back to 1.16.
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