Cross-rates signals: EUR/GBP is in the side triangle

Cross EUR/GBP remains in the side triangle, under the pressure of one or the other risks against the backdrop of political risks in the eurozone and the UK. The British pound looks more vulnerable with the exacerbation of risks on Brexit and the possible destabilization of the UK government.

Therefore, the upward trend resumption is expected. Buy area is located in the range from 0.8800 to 0.8830, where the significant support is the level of 0.8800, which is expected to be repulsed. The zone 0.8830-40 is resistance, breaking through which will indicate a resumption of growth. With the resumption of growth, we can expect a test of resistance levels: 0.8860 and 0.8880-90. Significant support is: 0.8800 and 0.8780.

Read also: “Some features of the Fibonacci grid”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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