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19 Mar 2014
EUR/GBP falls after BoE minutes, UK jobs data
FXStreet (Córdoba) - The EUR/GBP fell sharply erasing the previous day's gains as the pound strengthened after the release of BoE minutes and UK jobs data.
UK unemployment rate was unchanged at 7.2% with the claimant count at -34.6K versus forecasts of -25K. Meanwhile, the BoE minutes revealed the MPC voted unanimously to keep rates at 0.5% and QE at £375 billion, as widely expected. The EUR/GBP dropped more than 20 pips after data, extending its pullback from a 3-month high of 0.8399 scored during the Asian session.
EUR/GBP levels to watch
At time of writing, the GBP/USD is trading at the 0.8365 area, down 0.4% on the day, having hit a low of 0.8360. In terms of technical levels, the EUR/GBP could find immediate supports at 0.8360 (Mar 19 low), 0.8340 (Mar 17 low) and 0.8320 (100-day SMA). On the other hand, resistances are seen at 0.8400 (psychological level), 0.8423 (200-day SMA) and 0.8465 (Dec 18 high).
UK unemployment rate was unchanged at 7.2% with the claimant count at -34.6K versus forecasts of -25K. Meanwhile, the BoE minutes revealed the MPC voted unanimously to keep rates at 0.5% and QE at £375 billion, as widely expected. The EUR/GBP dropped more than 20 pips after data, extending its pullback from a 3-month high of 0.8399 scored during the Asian session.
EUR/GBP levels to watch
At time of writing, the GBP/USD is trading at the 0.8365 area, down 0.4% on the day, having hit a low of 0.8360. In terms of technical levels, the EUR/GBP could find immediate supports at 0.8360 (Mar 19 low), 0.8340 (Mar 17 low) and 0.8320 (100-day SMA). On the other hand, resistances are seen at 0.8400 (psychological level), 0.8423 (200-day SMA) and 0.8465 (Dec 18 high).