Signals on cross-rates: EUR/GBP forms a triangle

Cross-rate EUR/GBP after working off the figure “double top” and repelling from the level of 0.8810-00 (Fibo 50 from the April low) began to form a lateral triangle. The upper boundary of this figure is the zone 0.8880-0.8900, in which it is expected to reverse with the resumption of the downtrend and support test 0.8830 and 0.8810-00.

In case of breaking through the resistance zone 0.8880-0.8900, an alternative forecast for purchase comes into force. Signal of entering the trade is the penetration of the level of 0.8930, which will also indicate the working off of the figure “double bottom”.

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Hanzenko Anton