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7 Feb 2013
Forex: EUR/GBP edges higher after BoE
The pound weakened slightly versus most competitors after the Bank of England decided to keep its main interest rate unchanged at 0.5% and the amount of the bond-buying program also steady at £375 billion.
The EUR/GBP edged higher toward the 0.8340 area, returning to positive ground for the day, after sliding to a low of 0.8594 during the European session. At time of writing, the cross is quoting at the 0.8635 zone, slightly above its opening price.
As for technical levels, the Mataf.net team locates next resistances at 0.8660, 0.8685 and 0.8715 while they place supports at 0.8615, 0.8585 and 0.8555.
Still volatility might not be over for EUR/GBP, as investors will now be watching the ECB decision at 12:45GMT.
The EUR/GBP edged higher toward the 0.8340 area, returning to positive ground for the day, after sliding to a low of 0.8594 during the European session. At time of writing, the cross is quoting at the 0.8635 zone, slightly above its opening price.
As for technical levels, the Mataf.net team locates next resistances at 0.8660, 0.8685 and 0.8715 while they place supports at 0.8615, 0.8585 and 0.8555.
Still volatility might not be over for EUR/GBP, as investors will now be watching the ECB decision at 12:45GMT.