Cross-rate signals: EUR/GBP retains the potential to decrease

The EUR/GBP cross-rate, after attempts to grow on the general weakness of the pound caused by weak statistics in the UK, could not overcome the significant resistance of 0.8810-00, which indicates the preservation of the potential of the reduction of the pair. This also confirms the formation of the figure “double top”.

The entrance area for sale is located at the level of 0.8780-0.8770. The main resistance level is 0.8810-00, the update of the weekly maximum cancels expectations for a decline. The target is: 0.8730 and 0.8700.

Fig. EUR/GBP. Current price – 0.8790

Hanzenko Anton