EUR/GBP Biased Down on Less-Dovish-Than-Expected-BOE Minutes

        0114 GMT [Dow Jones] EUR/GBP is likely to consolidate in a lower range Thursday after hitting a one-month high of 0.8039 on Wednesday. The cross is undermined by Wednesday's release of less-dovish-than-expected Bank of England MPC November meeting minutes, although the daily chart is still positive-biased with the MACD indicator bullish and the slow stochastic measure staying elevated at overbought levels. Support is at 0.7985 (Wednesday's low); a breach would target 0.7952 (Monday's low), then 0.7925 (Friday's low). Resistance is at the 0.8039-0.8046 band (Wednesday's high-Oct. 15 reaction high, which is near the 200-day moving average); a breach would turn the near-term view positive, targeting 0.8065 (Sept. 10 reaction high). Spot EUR/GBP is at 0.7997. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires

        November 19, 2014 20:14 ET (01:14 GMT)

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