Cross-rate signals: EUR/GBP is near resistance

The downward dynamics of the EUR/GBP pair is maintained, despite the existing correction. A significant resistance level is zone 0.8780-90. The further reduction of this pair is expected from this pair. In this case, the signal for sale is the formation of repulsion from resistance levels: 0.8790 and 0.8810. After that, there is a high probability of resumption to support levels of 0.8730 and 0.8710. More significant support is 0.8690-80.

The main reason for the decline is the overall downtrend, which is limited to the level of 0.8690. Break through the resistance level of 0.8810 cancels the scenario for a decline.

Fig. EUR/GBP. Current price – 0.8750

Hanzenko Anton