Cross-rates signals: EUR/GBP is in a reversal zone

Cross EUR/GBP after a two-week decline remains under the pressure from the growth of optimism for the British and reduce the risks of a tough Brexit. In this case, a further decrease in the pair is limited by a four-month ascending channel, the lower border of which is in the zone of 0.9100-70.

A further decline in the EUR/GBP pair can be expected on the formation of a reversal in this zone. The breakdown of the resistance levels 0.9120 and 0.9140 will indicate the resumption of the general uptrend and cancel expectations for a decline. With the resumption of decline, the road opens to levels: 0.9030 and 0.9000.

Read also: “The risks of a trade war are back”

Hanzenko Anton

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

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