Сross-rates signals: EUR/GBP is at the threshold of correction

After almost three-week restrained growth, the cross-rate EUR/GBP accelerated growth, which was caused by positive data on the euro area. As a result, this cross has reached the upper boundary of the descending channel, which persists from October 2017.

A significant reversal zone is the level of 0.8940-10. One should expect from it, at least, a correction to the support levels of 0.8880-60, but as a maximum – repulsion and return of the pair in a downtrend.

Fig. EUR/GBP. The current price is 0.8910.

Hanzenko Anton