Cross-rates signals: EUR GBP forms an upward reversal
Cross EUR GBP retains its potential for growth in the context of political uncertainty regarding Brexit and general increasing risks. The technical picture also speaks about the formation of a reversal ascending model after a monthly movement in the flat.
Transactions for the purchase of the EUR GBP pair should be considered when exiting the downward channel and consolidating above 0.8650-70.
At the same time, it is worth monitoring the pair’s overbought in order not to fall back on a rollback. The targets are located at resistance levels: 0.8730 and 0.8750. The support is the marks: 0.8630 and 0.8600, fixing below which cancels expectations for growth.
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Hanzenko Anton
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