EUR/GBP moves off lows as BoE stays put

EUR/GBP managed to take back some losses over the last minutes, as the pound weakened across the board following BoE decision to stay on hold.

As expected, the Bank of England decided by unanimous vote to leave the Bank Rate at 0.25% and to keep the QE programme at £435 billion.

EUR/GBP bounced from a 10-day low of 0.8329 and it was last trading around 0.8360, still 0.25% lower on the day.

EUR/GBP technical levels

As for technical levels, next supports are seen at 0.8329 (Dec 15 low), 0.8304/05 (Dec 5 low/200-day SMA) and 0.8249 (Jul 14 low). On the flip side, resistances could be found at 0.8412 (10-day SMA), 0.8463 (21-day SMA) and 0.8571 (Dec 8 high).