EUR/GBP with limited downside ahead of BoE - Lloyds  Bank

Analysts from Lloyds Bank see a very important support in the EUR/GBP  pair at the 0.8300 - 0.8100 region.

Key Quotes:

“We accelerated lower on the break of 0.8440/25 intra-day support and are now approaching more important daily support in the 0.8300-0.8100 region. As such, aligned with GBPUSD, we feel there is limited room to downside ahead of tomorrow’s meeting, but while below 0.8400-0.8440 resistance we can see another test of interim support.”

“Long term, in conjunction with the GBPUSD view, we believe this move to the topside is the last within the correction from the 0.70/0.69 support region. Above 0.8700, sees next resistance in the 0.9000-0.9200 region.”