The ECB meets later this week against a backdrop of sharply lower government bond yields that raising pressure on the ECB to address a scarcity of bonds for its 1.7 trillion euro stimulus programme. In the week ahead, market players will be focusing on the outcome of Thursday’s ECB meeting to see if policymakers will step up monetary stimulus to counteract the negative economic shock from the Brexit vote. Technically market is getting support at 46485 and below same could see a test of 46300 level, and resistance is now likely to be seen at 47431, a move above could see prices testing 47694.

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