12 Feb 2014
EUR/GBP smashed by BoE and ECB comments
FXStreet (Córdoba) - The EUR/GBP extended losses to fresh lows as weakness ignited by the BoE Quarterly Inflation Report was fueled by ECB Coeure comments on negative deposit rates.
The EUR/GBP lost more than 70 pips within the last hours and bottomed out at 0.8213 before finding support. The pair remains under pressure after the BoE hawkish tone and amid comments the ECB is considering negative deposit rates "very seriously", trading at the 0.8220 area, where it records a 0.8% loss on the day.
EUR/GBP levels to watch
EUR/GBP has immediate supports at 0.8213 (Feb 12 low) and 0.8200 (psychological level), while resistances line up at 0.8265 (Feb 4 & 5 lows/10-hour SMA) and 0.8298/0.8300 (Feb 12 high/psychological level).
The EUR/GBP lost more than 70 pips within the last hours and bottomed out at 0.8213 before finding support. The pair remains under pressure after the BoE hawkish tone and amid comments the ECB is considering negative deposit rates "very seriously", trading at the 0.8220 area, where it records a 0.8% loss on the day.
EUR/GBP levels to watch
EUR/GBP has immediate supports at 0.8213 (Feb 12 low) and 0.8200 (psychological level), while resistances line up at 0.8265 (Feb 4 & 5 lows/10-hour SMA) and 0.8298/0.8300 (Feb 12 high/psychological level).