EUR/GBP steady near daily highs after ECB

EUR/GBP remained near session highs following European Central Bank decision to leave rates unchanged, as widely expected.

EUR/GBP had fallen to a 2-week low of 0.8899 earlier on the day but managed to recover ground and climbed to a fresh daily high of 0.8962 before the ECB statement. At time of writing, the pair is trading at 0.8952, up 0.27% on the day.

The ECB decided to leave the key interest rate at a record low of 0.0%, where it has been since March. The ECB also left the deposit rate at -0.40% and the marginal lending facility rate at 0.25%. ECB President, Mario Draghi, will comment on the considerations underlying these decisions at a press conference starting at 12:30 GMT today.

EUR/GBP levels to watch

As for technical levels, immediate resistances are seen at 0.8998/0.9000 (10-day SMA/psychological level), 0.9030 (Oct 18 high) and 0.9067 (Oct 13 high). On the flip side, supports could be found at 0.8899 (Oct 20 low), 0.8850 (20-day SMA) and 0.8804 (Oct 7 low).