EUR/GBP clears losses and defends the 200-day SMA ahead of BoEs decision
Tài chính EUR/GBP xóa lỗ và bảo vệ SMA 200 ngày trước quyết định của BoE Tin tức Bitcoin Ethereum EUR/GBP bottomed at a low of around 0.8695 and then recovered toward 0.8715. The EUR traded firm on Friday after the ECBs decision on Thursday to hold rates steady. Focus now shifts to next weeks BoE decision on Thursday, which is also expected to hold rates steady at 5.25%. At the end of the week, the EUR/GBP bulls did their job and defended the 200-day Simple Moving Average (SMA) at 0.8695 and cleared daily losses, jumping above 0.8700. On a weekly basis, the cross will tally a third consecutive week of gains despite facing selling pressure in the last sessions. On Thursday, the European Central Bank (ECB) decided to hold rates steady, and Christine Lagarde highlighted that the economic struggles in the Eurozone justified the decision. She then pointed out that the incoming data will be the one which ultimately decides for how long the bank will maintain its rates at a restrictive level, and as for now, markets are betting on rate cuts in April next year. On the other hand, markets await the Bank of England‘s (BoE) decision next week, expected not to deliver a hikes.