EUR/GBP & ECB's Draghi speech: More Euro strengthening across the board?
Following the disappointments brought by the Bank of Japan and the Federal Reserve during Wednesday, markets now would be watching for the ECB's president Mario Draghi today at 13:00 GMT, where it's expected to hold a speech that can bring some moves to the FX space, especially in the EUR pairs. However, major pairs were affected by the uncertainty's volatility around “Central Banks' storm” and it's likely that the moves for the rest of the week will be limited.
The technical picture for EUR/GBP at H4 chart is bullish, as it remains following a bullish trend line from the September 6th lows and we can see a resistance located at the 0.8623 level. If Draghi brings some hawkish comments, that is highly unlikely, then it could break higher towards the 0.8700 psychological level. In the neutral stance's scenario, the pair can do a pullback to the support level of 0.8543.