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

After a two-day movement near the resistance level of 0.8900-20, the pair EUR/GBP sank below the key resistance, which confirmed expectations.

The main expectations for the pair remain unchanged. Significant support, limiting the development of the downward trend, remains at 0.8830-40, breaking through which will open the way to the levels: 0.8770 and 0.8730-50. Resistance is located at the levels: 0.8870 and 0.8900. At the same time, a long stay of the EUR/GBP pair in the range from 0.8850 to 0.8900 will cancel the scenario for a decrease.

Fig. EUR/GBP. The current price is 0.8870.

Hanzenko Anton