Cross-rates signals: EUR/GBP is preparing to resume an upward dynamic

Cross EUR/GBP, despite the exacerbation of the situation on Brexit and the possibility of cancellation of the 50th article of the Lisbon Treaty, maintains the upward trend that can be traced on higher timeframes. It is worth noting that court proceedings around the 50th article of the Lisbon Treaty also contribute to the strengthening of the euro against the pound on the growth of political instability in the UK government.

Significant resistance, limiting the growth of the EUR/GBP pair, settled at 0.9800-20, breaking through which will open the way to significant resistance: 0.8960-80 and 0.9000. Support is located at the levels: 0.8880 and 0.8850.

Read also: “Fundamental analysis: the interest rate and its impact on exchange rates”

Hanzenko Anton

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