Cross-rates signals: EUR/GBP is preparing for growth

Cross EUR/GBP formed an “inverse head and shoulders” pattern, after a weekly movement in the flat, which, in the context of escalating risks on Brexit, can serve as a signal for the formation of a reversal and the formation of an upward movement.

The start of working out should be expected in the range of 0.9090-0.9100.

This paves the way for resistance levels: 0.9150 and 0.9180. Support is located at: 0.9070 and 0.9040, fixing a pair below which cancels expectations for growth.

Read also: “Multifacftorial Analysis of the Forex Market”

Hanzenko Anton

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