Cross-rates signals : EUR/GBP is near significant resistance

Cross EUR/GBP, against the backdrop of political risks and uncertainty on Brexit, turned out to be very overvalued. Especially in the conditions in which the UK is located with the expiration of the transition period for Brexit and the lack of the possibility of its extension. Therefore, the UK Parliament can only compromise and look for opportunities to implement a soft Brexit.

Waiting for the UK to compromise, a decline is expected from the EUR/GBP pair. Significant resistance zone is located at levels: 0.8600 and 0.8580, from which a reversal is expected to form. Deals for sale should be considered below the levels of 0.8550-30. This will open the way to support levels: 0.8480 and 0.8450.

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Hanzenko Anton

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