EUR/GBP rebounds further and clinches tops near 0.9150. The BoE left its refi rate unchanged, matching investors’ expectations. The “Old Lady” opens the door to negative rates. The selling pressure is now picking up pace around the British pound and is lifting EUR/GBP to the area of daily highs in the mid-0.9100s. EUR/GBP boosted by dovish BoE Following three consecutive daily pullbacks, EUR/GBP has now regained some composure helped by the renewed weakness around the sterling. In fact, the quid is suffering the dovish message from the Bank of England at its event, where it left unchanged both the refi rate and the QE programme at 0.10% and £745 billion, respectively. The vote of the Committee was unanimous on the latter. However, the central bank hinted at the possibility of implementing negative rates in case of further deterioration of the inflation and growth outlook. Regarding inflation, the BoE sees the CPI below the 1.0% mark until early 2021. What to look for around GBP The sterling appears to have regained some poise following the sharp pullback since the start of September. While dollar dynamics are usually seen behind occasional bouts of upside momentum in the quid, the currency faces increasing risks from the domestic scenario, namely the renewed dovish stance from the BoE, downside risks to the economic outlook from the coronavirus pandemic and the omnipresent concerns around Brexit talks and the EU-UK trade negotiations. EUR/GBP key levels The cross is advancing 0.38% at 0.9145 and faces the next resistance at 0.9291 (monthly high Sep.11) followed by 0.9324 (2019 high Aug.12) and then 0.9499 (2020 high Mar.19). On the downside, a breach of 0.9083 (weekly low Sep.17) would expose 0.9034 (55-day SMA) and finally 0.8865 (monthly low Sep.3). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500: Cluster of resistances at 3417/27 caps to maintain the risk for a corrective setback – Credit Suisse FX Street 2 years EUR/GBP rebounds further and clinches tops near 0.9150. The BoE left its refi rate unchanged, matching investors’ expectations. The “Old Lady” opens the door to negative rates. The selling pressure is now picking up pace around the British pound and is lifting EUR/GBP to the area of daily highs in the mid-0.9100s. EUR/GBP boosted by dovish BoE Following three consecutive daily pullbacks, EUR/GBP has now regained some composure helped by the renewed weakness around the sterling. In fact, the quid is suffering the dovish message from the Bank of England at its event, where it left unchanged both the refi… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.