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19 Feb 2014
EUR/GBP jumps after BoE minutes, UK data
FXStreet (Córdoba) - The EUR/GBP bounced sharply from daily lows and erased intraday losses after the release of latest BoE minutes and UK employment data for January.
The EUR/GBP jumped to a fresh daily high of 0.8253 as the pound weakened after the BoE minutes showed the MPC voted unanimously to keep monetary policy unchanged in February and that the BoE expects UK recovery momentum to continue in coming quarters. Meanwhile, the UK unemployment rate unexpectedly rose to 7.2% in the three months ended in December, missing estimates and previous print at 7.1%. The Claimant Change fell to 27.6K in January versus 20.0K expected.
EUR/GBP levels to watch
At time of writing, the EUR/GBP is trading at the 0.8245 zone, virtually unchanged since opening, with immediate resistances at 0.8253 (Feb 19 high), 0.8300 (Feb 12 high/psychological level) and 0.8335 (Feb 11 high). On the flip side, supports are seen at 0.8219 (Feb 18 low), 0.8189 (Feb 17 low) and 0.8167 (Jan 22 low).
The EUR/GBP jumped to a fresh daily high of 0.8253 as the pound weakened after the BoE minutes showed the MPC voted unanimously to keep monetary policy unchanged in February and that the BoE expects UK recovery momentum to continue in coming quarters. Meanwhile, the UK unemployment rate unexpectedly rose to 7.2% in the three months ended in December, missing estimates and previous print at 7.1%. The Claimant Change fell to 27.6K in January versus 20.0K expected.
EUR/GBP levels to watch
At time of writing, the EUR/GBP is trading at the 0.8245 zone, virtually unchanged since opening, with immediate resistances at 0.8253 (Feb 19 high), 0.8300 (Feb 12 high/psychological level) and 0.8335 (Feb 11 high). On the flip side, supports are seen at 0.8219 (Feb 18 low), 0.8189 (Feb 17 low) and 0.8167 (Jan 22 low).