Expectations from the EUR/GBP cross exchange rate

After the next pound sell wave on the UK data, the pair EUR/GBP continues to form the second part of the figure “double top”. This figure, as well as a downtrend, from the end of August is limited to the support level of 0.8870-40. The breakthrough of 0.8840 (Fibo 50.0 from the May’s low) will open the way to support levels: 0.8770 and 0.8730 (Fibo. 61.8 from the May’s low). Resistance continues to remain levels: 0.8920 and 0.8950.

Recommended for reading: https://esterholdings.com/en/2017/10/24/geopoliticheskie-riski/ and https://esterholdings.com/en/2017/10/19/korrektsiya/

Hanzenko Anton