Cross-rates signals: EUR/GBP resumes decline

After exiting the global channel, which was traced from November 2015, the cross EUR/GBP tested resistance 0.8840-50 and resumed a decline based on the positive inflation data on the UK. Thus, confirming the repulsion from the bottom of the global uplink.

This pair, and the pound in particular, remains largely dependent on the fundamental news: negotiations on Brexit and the upcoming meeting of the Bank of England. But the pair EUR/GBP is expected to move downward with the price fixed below 0.8810-00 and the support test: 0.8730-50 and 0.8710-00. The resistance is the level of 0.8830-50.

Fig. EUR/GBP H4. The current price is 0.8810.

Hanzenko Anton