Cross-rates signals: EUR/GBP remains in an uptrend

Cross-rate EUR/GBP, despite almost a week’s movement in the sideways trend, maintains a two-month uptrend. The lower boundary of this channel is located near the level of 0.8900. In conditions of maintaining political risks in the UK and the technical picture, from the level of 0.8900-30, it is worth considering the purchase deals with the targets: 0.8960-70 and 0.9000. The breakthrough of this channel and fixing the cross below 0.8890-80, calls into question the safety of the uptrend.

Read also: “The oil market and its main drivers in 2018”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Emerging markets and their prospects: Turkish lira (TRY)
2. Stock indices: the UK market
3. In Focus: Analysis of transactions for a EUR/USD pair during week