- Euro falls against CHF and GBP after the ECB meeting.
- EUR / GBP tops the lowest close since mid-August.
EUR / GBP fell further after the European Central Bank (ECB) meeting and Lagarde’s press conference. The cross bottomed out at 0.8523, reaching the lowest level since August 19. Key UK economic data will be released on Friday.
The euro falls after the ECB
Unsurprisingly, the ECB kept interest rates unchanged and halted its pandemic emergency buying program in the fourth quarter. “This slowdown was widely expected and probably as close to market consensus as it could get. The entire press conference went quite predictably,” analysts at Danske Bank said.
The euro weakened after the ECB meeting, falling particularly against the Swiss franc and the pound. The EUR / GBP decline was even bigger due to technical factors. The crossover broke an uptrend line and relevant horizontal support levels. It even fell below the 20-day moving average for the first time in a month.
From the daily low it rebounded and rose to 0.8540. Immediate support is at 0.8530 followed by the 0.8500 zone. On the upside, resistance levels could now sit at 0.8560.
Technical levels
EUR/GBP
| Overview | |
|---|---|
| Today last price | 0.8533 |
| Today’s Daily Change | -0.0046 |
| Today daily change% | -0.54 |
| Today they open every day | 0.8579 |
| Trends | |
|---|---|
| Daily SMA20 | 0.8559 |
| SMA50 daily | 0.855 |
| SMA100 daily | 0.8584 |
| SMA200 daily | 0.8688 |
| Levels | |
|---|---|
| Previous Daily High | 0.8603 |
| Previous Daily Low | 0.8578 |
| Previous weekly high | 0.8603 |
| Previous Weekly Low | 0.8562 |
| Previous monthly maximum | 0.8599 |
| Previous Monthly Low | 0.845 |
| Daily Fibonacci 38.2% | 0.8587 |
| Daily Fibonacci 61.8% | 0.8593 |
| Daily Pivot Point S1 | 0.857 |
| S2 daily pivot point | 0.8562 |
| S3 Daily Pivot Point | 0.8546 |
| R1 daily pivot point | 0.8596 |
| Daily pivot point R2 | 0.8612 |
| R3 daily pivot point | 0.862 |
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