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

Cross EUR/GBP, after a two-day decline in the correction, continues to trade in a three-week upward channel. Significant support is the zone 0.8870-50, which corresponds to the lower boundary of the ascending channel. From this zone we can expect the formation of a reversal.

Deals for buy should be considered above the zone of 0.8890-0.8900, on the breakthrough of the downward correctional dynamics or on the rebound of support levels.

The goals are located at levels: 0.9840 and 0.9860.

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

Hanzenko Anton

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