The EUR / GBP has lost about 60 pips immediately after learning that the Bank of England reduced the possibility of introducing negative interest rates in its monetary policy statement. The pair has fallen from the 0.8835 / 40 zone where it was trading before the news to the region 0.8780, marking a nine-month low.
The BoE has left its interest rates unchanged at 0.1% and the asset purchase program remains at 895,000 million free. The decisions were unanimous.
The pair’s traders will be waiting for the words of the Governor of the Bank of England, Andrew Bailey, and also for the data of weekly unemployment claims from the United States that will be published in the American pre-opening.
Niveles EUR / GBP
At time of writing, the pair is trading above 0.8785, shedding 0.45% on the day. Of continuing to fall, the next support awaits at 0.8758, low of May 12, 2020. Lower down, the target is around 0.8700, where the pair found several bottoms in early May last year.
To the upside, the cross would need to recover above 0.8835 / 40 (yesterday’s and today’s highs) to try to move towards 0.8870 resistance, January 29 high.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
