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2 Jan 2015
EUR/GBP hits 6-year low
FXStreet (Mumbai) - The EUR/GBP pair fell to 0.7750 levels today, its lowest since Oct 2008, after the European Central Bank (ECB) President Mario Draghi warned about the heightened risk of ECB failing to deliver its mandate of
price stability.
The pair traded 0.15% lower at 0.7753 levels at the time of writing. The single currency came under pressure today after the ECB President Draghi cited a high risk of the ECB failing to fulfil its mandate. Moreover, the single currency is already under pressure as markets expect the ECB to announce a sovereign QE program this year, while the renewed concerns due to Greek political turmoil have further added to the bearish pressure.
EUR/GBP Technical Levels
The immediate support is seen at 0.7750, under which the pair may test 0.7690 levels. Meanwhile, resistance is seen at 0.7755 and 0.78 levels.
price stability.
The pair traded 0.15% lower at 0.7753 levels at the time of writing. The single currency came under pressure today after the ECB President Draghi cited a high risk of the ECB failing to fulfil its mandate. Moreover, the single currency is already under pressure as markets expect the ECB to announce a sovereign QE program this year, while the renewed concerns due to Greek political turmoil have further added to the bearish pressure.
EUR/GBP Technical Levels
The immediate support is seen at 0.7750, under which the pair may test 0.7690 levels. Meanwhile, resistance is seen at 0.7755 and 0.78 levels.