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Forex: GBP/USD keeps the intraday range after BoE

FXstreet.com (Barcelona) - The sterling remained around 1.5160/80 on Thursday, after the BoE left unchanged both the lending benchmark and stimulus programme at 0.5% and £375 billion, respectively. Market participants largely anticipated the move by the central bank, leaving no room for surprises.

Recall that the services PMI in the British economy improved to 52.4 during March, bettering expectations at 51.5 and February’s 51.8.

At the moment, the cross is losing 0.31% at 1.5181 with the next support at 1.5026 (low Mar.20) followed by 1.5003 (61.8% of 1.4832-1.5280) and then 1.4965 (low Mar.7).
On the flip side, a breakout of 1.5159 (high Apr.3) would aim for 1.5163 (MA10d) and finally 1.5178 (low Apr.1).

UK: BoE keeps policy unchanged in April, rate at 0.5% and QE at £375

Despite the weakening figures seen in the latest activity indexes in the UK, the BoE decided to keep its monetary policy unchanged in the April meeting, with rates at 0.5% and QE at £375B, as expected. The minutes of the meeting will be published at 9.30am on Wednesday 17 April.
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Forex: EUR/GBP erases gains after BoE inaction

Following the retracement from 0.8521 highs on disappointing Services PMI in Europe, the EUR/GBP found support at 0.8478 low and then moved above the 0.8500 mark ahead of the BoE decision. The cross eased back to the opening price at 0.8490 after the announcement of an unchanged stance, with rate at 0.5% and QE at £375B.
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