Сross-rate signals: EUR/GBP returns to a downtrend

After a rapid increase in weak statistics for the UK, the EUR/GBP cross tested a significant resistance at 0.8800-30, which corresponds to the upper limit of the descending channel, which has been maintained since September 2017.

Further decline in the cross EUR/GBP is limited to a slight oversold. But, fixing the pair below the main resistance of 0.8810-0.8790 will indicate a decline to the support levels: 0.8730 and 0.8700.

Hanzenko Anton