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EUR/GBP falls below 0.8400 as BOE maintains base rate at 5%
As expected and conveyed here many times before, the reaction in the Pound to the unchanged UK base rate has pushed the EUR/GBP below the 0.8400 handle and hence closer to the current 2024 low, at 0.8383. The risks of that low being tested now look extremely high. The move lower in the EUR/GBP comes as the GBP/USD now takes out the previous resistance level at 1.3298 and lifts above 1.3300. The EUR/GBP is currently trading at 0.8396
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