Cross-rates signals: EUR/GBP forms a “cup with a handle”

The EUR/GBP pair markedly changed moods amid the resumption of negative sentiment on Brexit, thus slowing the downtrend of the pair. As a result, negative sentiment is increasing in pound, since the possibility of a hard Brexit is more than likely.

An additional factor indicating the growth of the euro against the pound is the formation of the “cup with a handle” pattern. Purchases area is located in the range of 0.8770-80. Fixing a pair above this zone will open the way to resistance levels: 0.8820 and 0.8850. The support is the marks: 0.8740 and 0.8720.

Read also: “Swedish Krona. Features of trading Scandinavian currencies “

Hanzenko Anton

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