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6 Mar 2014
EUR/GBP rises after BoE
FXStreet (Córdoba) - The EUR/GBP reached fresh daily highs as the British pound weakened across the board after the Bank of England decided to keep its policy unchanged and its interest rate at a record low of 0.5% for fifth year, as widely expected.
The EUR/GBP jumped to the 0.8230 zone but the 10-day SMA offered resistance. At time of writing, the pair is trading at the 0.8220 area, recording a 0.1% gain ahead of next key event, the ECB decision at 12:45GMT.
EUR/GBP technical levels
In terms of technical levels, if the EUR/GBP breaks decisively above 0.8230, next resistances are seen at 0.8246 (Mar 5 high) and 0.8259 (Mar 4 high). On the flip side, supports could be found at 0.8205/0.8200 (Mar 6 low/psychological level) and 0.8191 (Feb 28 low).
The EUR/GBP jumped to the 0.8230 zone but the 10-day SMA offered resistance. At time of writing, the pair is trading at the 0.8220 area, recording a 0.1% gain ahead of next key event, the ECB decision at 12:45GMT.
EUR/GBP technical levels
In terms of technical levels, if the EUR/GBP breaks decisively above 0.8230, next resistances are seen at 0.8246 (Mar 5 high) and 0.8259 (Mar 4 high). On the flip side, supports could be found at 0.8205/0.8200 (Mar 6 low/psychological level) and 0.8191 (Feb 28 low).