EURGBP Chart Technical Outlook set to decline below support at 0.8382 on hawkish BoE decision
The Pound is on a roll after the Bank of England voted to keep rates unchanged with a big majority. Interest rates are significantly higher in the UK than in Europe. This divergence pushes EUR/GBP down.
Strong support is at 0.8382, which supported the cross in July, and then 0.8575, the 138.2% Fibonacci extension of the 0.8399-0.8463 range. Bears have taken over.
