Cross-rates signals: the EUR/GBP pair found support

After a long working out of the previous forecast for this cross, the EUR/GBP pair found support at the level of 0.8840-50, which corresponds to the lower limit of the global upward trend, formed from the end of 2015.

Given the safety of the global uptrend and bullish divergence on the daily timeframe, one should expect the formation of a reversal and further growth. So, the purchasing zone is at the levels 0.8850-0.8900, with further strengthening to the resistance levels: 0.8960-70 and 0.9020.

The dynamics of the cross in the last two months indicates the formation of an upward triangle, which will indicate a longer growth in the case of working out. Support is located at the levels: 0.8840-30 and 0.8810-00.

Anton Hanzenko