The EUR/GBP edged up some 0.10% on Thursday after the European Central Bank (ECB) held rates unchanged.
EUR/GBP edges up to 0.8410 following the ECB's rate decision and strong UK jobs data. Technical analysis shows a potential 'falling wedge' pattern, indicating possible new weekly highs. Key resistance levels: 0.8460 , 0.8478 , and 0.8499 ; support levels: 0.8403 and 0.8383 . The EUR/GBP edged up some 0.10% on Thursday after the European Central Bank held rates unchanged.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
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