Economists at HSBC analyze how the ECB’s upcoming March meeting could impact the EUR/USD and EUR/GBP.
EUR/GBP may breach the 0.8500 mark on a dovish ECB turn
In the EUR/USD pair, the 1.0700 level serves as crucial support, with potential upward movement capped at 1.0930 in the absence of significant ECB language changes. A break below 1.0700 could swiftly shift market focus towards the 1.0500 target.
In the case of EUR/GBP, a dovish turn from the ECB might trigger an attempt to breach the 0.8500 mark.
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