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4 Dec 2014
Euro jumps versus Pound after BOE leaves policy unchanged
FXStreet (Mumbai) - The euro climbed higher against the UK pound on Thursday the Bank of England's (BoE) left monetary policy measures unchanged in November.
The 18-nation bloc currency rose 0.13% and traded at 0.7859 against the UK pound, hovering around an intraday high of 0.7866.
The base rate was unchanged at 0.5% since March 2009 and the volume of quantitative easing (QE) has been untouched at £375 billion since July 2012. The policy announcement was in line with the expectations as no major shift in policies was announced. Markets will now turn their attention to ECB policy meeting which is due later in the day.
EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7881 (50-day SMA) and above which it could extend gains to 0.7912 (100-day SMA ). To the downside immediate support might be located at 0.7848 and below that at 0.7830 levels.
The 18-nation bloc currency rose 0.13% and traded at 0.7859 against the UK pound, hovering around an intraday high of 0.7866.
The base rate was unchanged at 0.5% since March 2009 and the volume of quantitative easing (QE) has been untouched at £375 billion since July 2012. The policy announcement was in line with the expectations as no major shift in policies was announced. Markets will now turn their attention to ECB policy meeting which is due later in the day.
EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7881 (50-day SMA) and above which it could extend gains to 0.7912 (100-day SMA ). To the downside immediate support might be located at 0.7848 and below that at 0.7830 levels.