EUR/GBP chart - Trading View
EUR/GBP edges lower from session highs at 0.9239, gradual decline seen as pair eases from overbought levels.
Market focus on the Bank of England (BoE) monetary policy update. The BoE is expected to leave its policy unchanged after two emergency moves.
The central bank slashed rates to 0.25% in the previous week, after which, the bank's lending rate stands at 0.10%.
Its Quantitative Easing program stands at £645 billion – up £200 billion from the previous levels.
The BOE also announced a lending scheme worth around £100 billion, in its first coronavirus emergency decision.
Technicals suggest EUR/GBP is set to extend weakness. 5-DMA is sharply lower and Stochs and RSI have rolled over from overbought levels.
'Death Cross' (bearish 50-DMA crossover on 200-DMA) confirmation on the hourly charts adds to the bearish bias.
Support levels - 0.9032 (38.2% Fib), 0.8967 (21-EMA)
Resistance levels - 0.9185 (5-DMA), 0.9210 (23.6% Fib)


Energy Sector Outlook 2025: AI's Role and Market Dynamics
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty
Wall Street Analysts Weigh in on Latest NFP Data
China's Refining Industry Faces Major Shakeup Amid Challenges
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 



