5 Dec 2013
EUR/GBP dips as BoE holds rates and asset purchases
FXstreet.com (Barcelona) - Having climbed to post a high at 0.8322, EUR/GBP slumped in the build up to today’s BoE meeting, and has edged slightly high in the immediate aftermath.
GBP caught between Westminster and Threadneedle Street
With the UK Chancellor delivering his hotly anticipated Autumn Budget Statement at the same time as the Bank of England rate decision, the result has been an extremely subdued reaction in EUR/GBP, with spot barely moving over the past hour, to where it is presently trading at 0.8310. The Old Lady of Threadneedle Street held rates and asset purchases as expected, while the Chancellor delivered a neutral budget, in which he announced an improvement in economic projections by the OBR, and a range of pro business and housing development initiatives.
What are today’s key EUR/GBP levels?
Hourly RSI sits at 56 and ranging, with the FXstreet.com Trend Index showing the par to be slightly bearish. The hourly 200 SMA is bearish at 0.8322, alongside the daily 20 EMA, also bearish at 0.8353.The daily pivot point can be located at 0.8296 with support found at 0.8270 (S1), 0.8247 (S2) and 0.8221 (S3), and resistance at 0.8319 (R1), 0.8345 (R2) and 0.8368 (R3).
GBP caught between Westminster and Threadneedle Street
With the UK Chancellor delivering his hotly anticipated Autumn Budget Statement at the same time as the Bank of England rate decision, the result has been an extremely subdued reaction in EUR/GBP, with spot barely moving over the past hour, to where it is presently trading at 0.8310. The Old Lady of Threadneedle Street held rates and asset purchases as expected, while the Chancellor delivered a neutral budget, in which he announced an improvement in economic projections by the OBR, and a range of pro business and housing development initiatives.
What are today’s key EUR/GBP levels?
Hourly RSI sits at 56 and ranging, with the FXstreet.com Trend Index showing the par to be slightly bearish. The hourly 200 SMA is bearish at 0.8322, alongside the daily 20 EMA, also bearish at 0.8353.The daily pivot point can be located at 0.8296 with support found at 0.8270 (S1), 0.8247 (S2) and 0.8221 (S3), and resistance at 0.8319 (R1), 0.8345 (R2) and 0.8368 (R3).