EUR/GBP: Downside test rejected on euro strength

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    ECB delivers, but Draghi propels euro sharply higher On Thursday, the ECB policy decision dominated trading. Immediately after the policy announcement with lots of new measures, European bond yields and the euro declined substantially. However, this decline was abruptly reversed, as the ECB president said he didn’t see a need for further rate cuts and as markets doubted the other measures would help the ECB much in reaching their objectives. EUR/USD rebounded forcefully and jumped well north

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