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Tuesday, 20 January 2015

EURGBP trend & momentum 20-Jan-2015

EUR has been declined against most major currencies for last a few weeks, due to the planned ECB decision.

The market consensus seems to imply ECB going forward to massive QE for multi billion Euros but the timing could be delayed. Even if ECB decision is taken as planned, downside of EUR could be limited.However, Greek election is being held soon, uncertainty at EUR still remains. If Greek repayment schedule would be mitigated, credit on EUR can be degraded as seen the debt partially defaulted.

EURGBP is one of the pairs under those risk, and the signal of trend and momentum indicates upward trend in a coming week.

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