Cross-rate signals: EUR/GBP keeps the downward dynamics

After a prolonged decline, the pair EUR/GBP was under pressure of correction after a breakthrough from the level of 0.8690. At the same time, there is a downward dynamics of this pair , as indicated by the two-week and a general downward trend.

At the same time, further decline in the pair may be hindered by the oversold and support level of 0.8690, which is a minimum of December last year. The aggressive entry point to the sale is the break through of support 0.8730, which will be limited to oversold and support 0.8690. More conservative is the entry from the resistance 0.8770-0.8800, with the same support levels, but the probability of the break through them is higher.

Fig. EUR/GBP H4. Current price – 0.8740

Hanzenko Anton