10 Jul 2014
EUR/GBP unchanged after BoE decision
FXStreet (Córdoba) - The EUR/GBP barely moved and remained clung to the 0.7955 area after the bank of England decision to leave its monetary policy unchanged.
The Bank of England decided to keep its key lending rate at a record low of 0.5% and the amount of its bond-buying program at £375 billion. The BoE decision was widely expected causing virtually no effect on the GBP. At time of writing, the EUR/GBP is trading at 0.7955, a few pips its opening price, but off a daily high of 0.7968 scored earlier.
EUR/GBP levels to watch
As for technical levels, the EUR/GBP could find next resistances at 0.7968 (Jul 10 high), 0.7972 (Jul 3 high), 0.7977/79 (21-day SMA/Jul 2 high). On the other hand, supports are seen at 0.7926 (Jul 8 low), 0.7915 (2014 low Jul 7) and 0.7907 (Sep 6 2012 low).
The Bank of England decided to keep its key lending rate at a record low of 0.5% and the amount of its bond-buying program at £375 billion. The BoE decision was widely expected causing virtually no effect on the GBP. At time of writing, the EUR/GBP is trading at 0.7955, a few pips its opening price, but off a daily high of 0.7968 scored earlier.
EUR/GBP levels to watch
As for technical levels, the EUR/GBP could find next resistances at 0.7968 (Jul 10 high), 0.7972 (Jul 3 high), 0.7977/79 (21-day SMA/Jul 2 high). On the other hand, supports are seen at 0.7926 (Jul 8 low), 0.7915 (2014 low Jul 7) and 0.7907 (Sep 6 2012 low).