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EUR/GBP holds above 0.7300 post BOE’s Haldane

FXStreet (Mumbai) - The cross in the EUR/GBP kept the range above 0.73 handle, as the GBP traders paid little attention to the latest comments from Bank of England’s (BOE) economist Haldane.

EUR/GBP clings to 0.7300

Currently, the EUR/GBP pair drops -0.29% to 0.7315, recovering from a brief dip below 0.73 barrier. The EUR/GBP cross remains in the red as the British pound continues to outperform the shared currency, showing little reaction to the latest dovish comments from BOE’s Haldane.

BOE’s Haldane said on Friday that the case for raising the UK interest rates in the current environment is "some way from being made", while adding that the balance of risks to the UK growth and inflation at the two-year horizon is "skewed squarely and significantly to the downside".

Whilst, the euro erased gains and now trades muted against the US dollar amid widespread risk-aversion, heading into the US open.

EUR/GBP Technical Levels

To the upside, the next resistance is located at 0.7375 (Sept 3 High) levels and above which it could extend gains to 0.7400 levels. To the downside immediate support might be located at 0.7272 (Sept 17 Low) below that at 0.7243 (Aug 31 Low).

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