EUR/GBP failing rally to 0.7285 sents the pair to fresh multi-year lows

FXStreet (San Francisco) - The Euro jumped around 45 pips from 0.7240 to 0.7285 following ECB Mario Draghi's announcement that the ECB will begin its bond purchases next Monday March 9 as well as his remarks about his satisfaction on the last central bank's measures.

However, the EUR/GBP got a rejection at highs and now it is trading at daily lows around 0.7220. Currently, EUR/GBP is trading at 0.7226, down 0.42% on the day, having posted a daily high at 0.7289 and low at 0.7223.

The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.

EUR/GBP levels

Below the 0.7220, the pair will find next supports at 0.7200 and 0.7180. To the upside, resistances are at 0.7285, 0.7300 and 0.7320.