EUR/GBP dips after BoE and ECB hold rates steady EUR/GBP's recovery to Thursday’s £0.8634 high, following its sharp decline from its six-month high
EUR/GBP dips after BoE and ECB hold rates steady
EUR/GBP’s recovery to Thursday’s £0.8634 high, following its sharp decline from its six-month high at £0.8766, has been followed by another decline to £0.8587 before the cross stabilized. The drop occurred as three of the nine voting Bank of England (BoE) Monetary Policy Members (MPC) voted for another rate hike while six decided to keep UK rates where they are, as the ECB did.
A slip through £0.8587 may put the current December low at £0.855 back on the cards.
Resistance above Friday’s intraday high at £0.8617 sits at this week’s £0.8634 high. Above it meander the 200- and 55-day simple moving averages (SMA) at £0.8663 to £0.8669.
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