EUR/GBP weakened after the release of the Bank of England minutes and accelerated the decline after the Swiss National Bank reduced exemptions on negative rates. The pair bottomed at 0.7120, level last seen in March 17. Earlier it traded above 0.7200 momentarily but failed to hold, lost momentum and weakened sharply after breaking the 0.7160/70 support area, that capped the decline during the last five trading days. From the lows, EUR/GBP bounced slightly to the upside and currently trades at 0.7140, down 50 pips from yesterday's closing price. The euro is having the worst day against the pound and is approaching 2015 lows that lie at 0.7014.