> EURGBP rallies through 0.8450 on general euro demand ahead of ECB

EURGBP rallies through 0.8450 on general euro demand ahead of ECB

Thursday, 08/09/2016 | 10:27 GMT-0

It's been a solid session for the euro as we wait on Draghi & Co 8 Sept

Further to my earlier post EURGBP has continued to look solid and now chewing through decent size offers/res around 0.8450.

Now on session highs of 0.8454 with EURUSD posting fresh session highs of 1.1293 ahead of good offers/res between 1.1300-10. The EURGBP demand is once again capping cable advances.

EURJPY up to 114.77 with offers nearby between 114.80-115.00.

Seems to me it's going to take a very dovish Draghi to shake out the longs and I expect dip-demand to continue even if the topside presents tough fences to jump over across a number of euro pairs.