Currencies  |  March 07, 2013 13:20:00

Afternoon Analysis EUR / GBP The central bank of the United Kingdom (BOE) today decided to increase the amount of money pumped into the economy. BOE leaving the current 375 billion pounds, for which it buys government bonds. No changes she received or the interest rate, which remains at a record low 0.5 percent. 60 percent of economists surveyed by Reuters, however, still believe that the end of the year we can expect more aggressive easing of monetary policy.

The British economy is still moving on the edge between the third recession in the last four years. Any help would be the decline was mainly the service sector, which on Tuesday, according to purchasing managers index (PMI) increased to 51.8 points.Inflation has remained stubbornly high 2.7 percent, and according to her analysis BOE not be reduced to 3 years at 2 percent target.

The European Central Bank (ECB) surprised markets today as well as maintain the interest rate at 0.75 percent. Attention retailers now directed to the words of Mario Draghi, who will speak at 14:30 at the press conference. ECB predicts a 0.3 percent contraction in the euro area this year. Next year, the trend was to turn around and Europe seems to end up being 1.2 percentage growth. Inflation this year would be around 1.6 percent.

Currency pair EUR / GBP responded to an afternoon date weakening. Currently heading toward Reviews Support Fibonacci level 50, where the sale could stop for a moment. From a technical point of view we can see on an hourly chart double peak, prefiguring weakening.Volatility on this pair remains high even for a speech of Mario Draghi.

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