FxWirePro- Gold Daily Outlook 
FxWirePro: EUR/AUD drifts lower, could be on verge of a bigger drop 
FxWirePro: EUR/AUD outlook weaker on renewed downside pressure 
FxWirePro- Gold Daily Outlook 
FxWirePro-Major pair levels and bias summary 
FxWirePro: EUR/NZD drop accelerates ahead of the RBNZ rate decision 
FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (USDCAD) for the day) 
FxWirePro- GBPJPY Daily Outlook 
FxWirePro:GBP/NZD resumes downside ahead of RBNZ interest rate decision 
FxWirePro- Top altcoins for the day (Strength index) (FTTUSD) 
FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURJPY) for the day) 
FxWirePro- EURUSD Daily Outlook 
FxWirePro- Top altcoins for the day (Strength index) (MKRUSD) 
FxWirePro- Gold Daily Outlook 
FxWirePro-Major pair levels and bias summary 
FxWirePro- EURUSD Daily Outlook 
FxWirePro : GBP/AUD set for bigger drop, but close below key fibo needed 
- News
- Economy
- Central Banks
- Investing
- Research
- Roundups
- Digital Currency
- Insights
- Technical Analysis
- Technology
- Business
- Law
- Health
- Nature
- Fintech
- Science
- Topic
- Opinions
- ©Econometrics LLC . All Rights Reserved.
FxWirePro: EUR/GBP erases early losses, pound drops after BoE rate hike
Chart - Courtesy Trading View
EUR/GBP was trading 0.15% higher on the day at 0.8739 at around 16:20 GMT, edges higher from session lows at 0.8691.
The British pound pops following monetary policy decision of the Bank of England, rising rates by 50 bps to the 2.25% mark.
The central bank also said that it would continue to “respond forcefully, as necessary” to elevated prices.
Further, the MPC voted to reduce the BoE’s GBP 838 Billion by 80 billion pounds over the coming year.
The pound edged higher after the rate hike, but quickly gave up all gains after the BoE’s projected a 15-month recession, likely to begin by the year’s end.
EUR/GBP has bounced off 200H MA support, price action hovers around 5-DMA, close above will see more upside.
Momentum to remain with the bulls as long as price action holds above 200-week MA.
Editor's Picks
- Market Data
