The European currency is losing ground ahead of the ECB event later today. Also, the US dollar is a little fragile against the Sterling with GBPUSD climbing to a session high of 1.2500.
The EURGBP pair is unaltered on the day, trading close to 0.8900 and that is the place I’d search for any clear cut eur/gbp strength.
All in all, ECB President Draghi’s actions are set to determine EURUSD’s direction.
EUR/USD levels to watch
If price breaks higher later upon the ECB announcement, keep an eye out for the 100-hour Moving Average at 1.1180 and offers around 1.1200 followed by the 200-hour Moving Average at 1.1209.