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EUR/GBP chart - Trading View
EUR/GBP is extending previous session's spike, trades 0.47% higher at 0.9063 at around 06:50 GMT.
The pair has held support at 'Symmetric Triangle' base on Wednesday trade and bounced higher to close 0.61% higher to 0.9021.
The British pound remains under pressure ahead of the Bank of England (BoE) policy meeting. Focus will be on the minutes of its policy meeting and the Quarterly Inflation Report (QIR).
The central bank is more likely to keep the interest rates on hold and is widely anticipated to offer QE and/or cutting the quarterly economic forecasts.
If the BoE has a dovish view on the UK economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish and could dent the GBP, pushing the pair higher.
Daily cloud is major resistance, break above will propel the pair higher. Scope then for test of 0.9235 levels.
