ECB’s bond purchase plan has spurred sentiment on Thursday, pushing the risk-associated assets to higher ground against the greenback, despite doubts in its implementation and lack of details, as per usual.
Next data on tap for the GBP will be industrial/manufacturing production and producer price index. In the euro zone, GDP figures in Portugal and Greece plus German industrial production will complete the docket.
EUR/GBP is now printing fresh session highs around 0.7940 with the next hurdle at 0.7956 (high Aug.31) followed by 0.7959 (high Aug,7) then 0.7963 (high Aug.6) and 0.7967 (Upper Bollinger).
On the flip side, a breakdown of 0.7889 (MA30d) would bring 0.7885 (low Aug.23) then 0.7857 (low Aug.21) and 0.7833 (low Aug.20).