5 Mar 2015
EUR/GBP trims losses to 0.7250
FXStreet (Edinburgh) - EUR/GBP managed to bounce off intraday lows in the 0.7240 area to the boundaries of 0.7260 on Thursday.
EUR/GBP muted on BoE
The European cross is trying to clinch the mid-0.7200s after the BoE kept unchanged the monetary status quo in March, with the benchmark rate at 0.5% and the Gilt purchases at £375 billion.
Ahead in the session, the ECB gathering is due next, will all the attention on the QE details and the updated forecasts on inflation and economic growth by the ECB council.
EUR/GBP key levels
At the moment the cross is losing 0.04% at 0.7254 with the next support at 0.7300 (psychological level) ahead of 0.7108 (high Dec.2004) and then 0.7022 (high Apr.2006). On the upside, the initial hurdle lines up at 0.7280 (hourly high Mar.4) followed by 0.7289 (high Mar.3) and finally 0.7301 (high Mar.2).
EUR/GBP muted on BoE
The European cross is trying to clinch the mid-0.7200s after the BoE kept unchanged the monetary status quo in March, with the benchmark rate at 0.5% and the Gilt purchases at £375 billion.
Ahead in the session, the ECB gathering is due next, will all the attention on the QE details and the updated forecasts on inflation and economic growth by the ECB council.
EUR/GBP key levels
At the moment the cross is losing 0.04% at 0.7254 with the next support at 0.7300 (psychological level) ahead of 0.7108 (high Dec.2004) and then 0.7022 (high Apr.2006). On the upside, the initial hurdle lines up at 0.7280 (hourly high Mar.4) followed by 0.7289 (high Mar.3) and finally 0.7301 (high Mar.2).