At the meeting of the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05%, 0.30% and -0.20% respectively.

This created quite a steer in the market as EUR/USD JUMPED TO 1.0980 from the days low of 1.0522.

GBP/USD also joined the rally running to the upside and plotting a high at 1.5159.

Could this be the possible come back for euro or is it just another selling opportunity .. well all the answer would be given once the most anticipated interest rate hike would be delivered by US.

As of today all eyes will eager to see the NFP figures.

Technical levels for today

EUR/USD

Upside : 1.0940 and 1.0980 a break above this level could check the psychological level of 1.1000.

Down side: 1.0860 and 1.0820

GBP/USD

Up side:  1.5122 , 1.5155 and 1.5195.

Down side: 1.5080 , 1.5055 and 1.5025.