The 0.8825 price point seems to be providing remarkably strong support at present to any downwards move in the $uros to poundsr and whilst yesterday’s down bar provided some much needed direction this has promptly been reversed in early trading this morning bouncing off this price region and clawing its way higher during the London session.  All the euro crosses are now waiting for the news releases from the ECB tomorrow and it is unlikely that we will see much in the way of price movement today given the interest rate decision and associated statement due out tomorrow.  In addition we also have a BOE rate statement and announcement so I would advise staying out of this currency pair until this news has been absorbed in the daily price chart.

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