Signals for cross-rates: EUR / GBP remains under pressure

After a week of formation of the figure “head and shoulders” expectations for the EUR / GBP pair for March 6 were justified. At the same time, the technical picture indicates the possibility of a deeper correction to the level of 0.8810-00.

The signal to the sale entry will be the resumption of the decline with the breakout of the current support level of 0.8860-70 and the unloading of the oversold Forex indicators. Also, the consolidation below this support will return the pair to a downtrend that has been traced since last October. This will allow to expect more significant decline in the EUR / GBP pair.

EUR / GBP H4 chart. The current price is 0.8870.

Hanzenko Anton