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EUR/GBP also in the spotlight today as ECB decision looms
The Pound versus the Euro is definitely on the radar today, given we have the important ECB monetary policy decision due out in just over an hour from now. Most recently the EUR/GBP has been pushing back towards and above a key level that we noted some weeks back, when the price busted below it. That was the 200 week moving average and it was in place back then at 0.8602.
That 200 week moving average is in place today at 0.8593. The EUR/GBP did briefly top that level last week, but importantly it did not set a daily or weekly close above it. Since then this week it has been struggling to make progress above that and the 0.8600 handle and today could see it either make a bigger topside move, or give up on the idea altogether. We shall have to see how this pays out. The range seen so far today has been very tight and covered by 0.8584 and 0.8591. It is right now at 0.8588
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