FXStreet (Mumbai) - Sterling suffered moderate weakness, helping the EUR/GBP pair trim losses to trade around the 5-DMA located at 0.7225 after the Bank of England (QE) left policy tolls unchanged. BOE – No surprises The BOE MPC voted 8-1 to keep rates unchanged as expected and once again reiterated low inflation in the short-term. However, the minutes noted the nominal wage growth appears to have flattened due to lesser working hours. This may have weighed over Sterling and helped the EUR/GBP pair trim losses to trade around the 5-DMA. With the BOE event out of the way, the focus now would be on the US stock markets and the resulting demand for the safe havens/risk assets. EUR/GBP Technical Levels At 0.7225, the pair could rise to 0.7237 (50% of 0.7493-0.6981), above which the gains could be extended to 0.7261 (daily high), which, if taken out could open doors for 0.7278 (38.2% of 0.6931-0.7493). On the other hand, a break below 0.7212 (50% of 0.6931-0.7493), would expose the confluence of 100-DMA and 200-DMA at 0.7203-0.7198. For more information, read our latest forex news.