Cross-rates signals: EUR / GBP waiting for correction
The EUR / GBP cross, despite attempts of restoring the UK economy and reducing the risks associated with Brexit, remains clamped in a general downtrend, which overlaps with a two-month uptrend. As a result, a certain truncated triangle is formed, the upper boundary of which is located at the level of 0.8800-30.
The main resistance for EUR / GBP is the level of 0.8800-30, from which it is worth considering transactions for sale with targets of 0.8750 and 0.8720-00. The return and consolidation in a downtrend below the level of 0.8790-0.8800 will be a signal to sell .
Read also: “Inflation Indicators: CPI and PPI”
Hanzenko Anton