10 Apr 2014
EUR/GBP steady after BoE
FXStreet (Córdoba) - The EUR/GBP showed little reaction after the Bank of England decided to keep its policy unchanged and its interest rate at a record low of 0.5%, as widely expected.
The EUR/GBP edged a tad higher and printed a marginal new high of 0.8267 but lacked follow-through as investors were unsurprised by the decision. At time of writing, the pair is trading at the 0.8265 area, recording a 0.2% gain on the day. Despite disappointing economic data from the Eurozone, the euro has managed to extend gains versus the dollar and the pound.
EUR/GBP technical levels
In terms of technical levels, if the EUR/GBP breaks decisively above 0.8265/70, next resistances are seen at 0.8284 (Apr 7 high) and 0.8300 (psychological level/100-day SMA). On the flip side, supports could be found at 0.8240 (Apr 10 low) and 0.8230 (Apr 9 low) ahead of 0.8200 (psychological level).
The EUR/GBP edged a tad higher and printed a marginal new high of 0.8267 but lacked follow-through as investors were unsurprised by the decision. At time of writing, the pair is trading at the 0.8265 area, recording a 0.2% gain on the day. Despite disappointing economic data from the Eurozone, the euro has managed to extend gains versus the dollar and the pound.
EUR/GBP technical levels
In terms of technical levels, if the EUR/GBP breaks decisively above 0.8265/70, next resistances are seen at 0.8284 (Apr 7 high) and 0.8300 (psychological level/100-day SMA). On the flip side, supports could be found at 0.8240 (Apr 10 low) and 0.8230 (Apr 9 low) ahead of 0.8200 (psychological level).