Lots of news driven events this morning in the markets triggered off ECB talking:

• ECB Coeure says due to seasonal factors QE will be front loaded to May and June, hypothetically deposit rates could be even more negative
• ECB’s Noyer says that the ECB are prepared to continue QE to September 2016
• EU’s Juncker expects an aid agreement to be reached on Greece by the end of this month or the beginning of June however, says that an aid deal will not be reached in Riga

This caused this result on the EURUSD chart.

EURUSD tank

Hope fully some of you got in off my blog post here over the weekend :

http://forexsignalservices.co.uk/forexblog/forex-eurusd-for-next-week-a-view-on-the-daily-chart/

On the GBPUSD we had some bad news this morning on the CPI y/y this came in at -0.1 % when expected was 0.0%

gbpusd

this caused the pair to drop further after it seemed to also be affected by the EUR news earlier in the morning.

I am currently monitoring on 4 hr price action and harmonic patterns.