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EUR/GBP gets close to 0.8700 after BOE holds rates

The drop in the pound versus the dollar after the BOE decided to keep its benchmark rate on hold saw an equal move higher in the EUR/GBP. That potential was flagged up here earlier this morning and I noted that the 0.8712 level could easily come back on the radar, if the BOE refused to hike again. Well, it sure has and the high seen so far has been set at 0.8694, but it might have traded higher at some venues. That level at 0.8712 is still where the 200 day moving average is in residence and that has not changed for a while now. The EUR/GBP has just backed off a little, but remains elevated overall following this BOE decision. It is just now trading at 0.8684
 

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