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4 Apr 2013
Forex: GBP/USD edges back off high during Draghi Press Conference
FXstreet.com (Barcelona) - Having climbed to post a high this morning following the BoE´s decision to hold rates and asset purchases, GBP/USD has declined during ECB President Draghi´s Press Conference.
The pair climbed to post a high at 1.5154 following the BoE meet, in the build up to Draghi´s speech, but edged back as Draghi commented that downside risks exist in the region, and that inflation risks remain broadly balanced. Further, he added that he remained commited to keeping monetary policy accommodative for as long as needed. Spot declined to find some near term support at the hourly 100 MA at 1.5108, while hourly RSI sits at 60.
The pair climbed to post a high at 1.5154 following the BoE meet, in the build up to Draghi´s speech, but edged back as Draghi commented that downside risks exist in the region, and that inflation risks remain broadly balanced. Further, he added that he remained commited to keeping monetary policy accommodative for as long as needed. Spot declined to find some near term support at the hourly 100 MA at 1.5108, while hourly RSI sits at 60.