Cross-rates signals: EUR/GBP maintains an uptrend

The EUR/GBP cross-rate maintains an upward trend for the second week in a row, limited to support levels of 0.8860 and 0.8830, also receiving support from fundamental factors and slowing down negotiations on Brexit. Significant resistance, which limits further strengthening of the pair, is the level of 0.8880-90, the maximum of the last week.

Maintanance of an uptrend in the EUR/GBP cross-rate after a slight correction will open the way to resistance levels of 0.8920 and 0.8980, which can be repulsion. Also at these levels of resistance is the upper limit of the descending channel, which can be traced from the middle of October.

Fig. EUR/GBP H4. The current price is 0.8880.

Hanzenko Anton