FXstreet.com (Barcelona) - The Eur/GBO has risen 64 pips in the first 15 minutes ahead the BoE cut decision from the 0.8876 to the 0.8940, today's maximum. After that the pair begun to fall slightly to be trading just above the 0.8900 level.

The Pair looks without direction and waiting for the Trichet's speech, currently the EUR/GBP is trading around the 0.8910/20 band with some volatility.

If the pair could be below the 0.8900 support, next support will be 0.8860 and 0.8840. On the upside, if the pair hold above the 0.8900 level, it will go up to the 0.8940 first, then the next resistance will be 0.8950, as yesterday's high and a new attempt to break the 0.9000 strong resistance.