Currency pair Euro Pound EUR/GBP continues to move in an upward correction. At the time of publication of the Forex Forecast, the Euro to British Pound exchange rate is 0.8900. At the moment, we can expect a test of the resistance level near the 0.8930 area, then a rebound and a further decline in the EUR/GBP quotes to the area below the 0.8805 level.
EUR/GBP Forecast Euro Pound October 4, 2018
In favor of reducing the pair EUR/GBP will test the trend line on the indicator of relative strength index (RSI). Cancellation of the option of falling quotes of the currency pair Euro/Pound on Forex will be a strong growth and a breakdown level of 0.8955, which will indicate a breakdown of the upper border of the channel and the continued growth of EUR/GBP quotes to the area above the level of 0.9010. It is necessary to wait for confirmation of the pair’s fall with the breakdown of the support area and closing of quotes below the level of 0.8845.
EUR/GBP Forecast Euro Pound October 4, 2018 suggests an attempt to test the resistance area near the level of 0.8930 and the pair continue to fall into the area below the level of 0.8805, a test of the downward trend line on the relative strength index (RSI), the cancellation of the currency quotation option, will be in favor of the fall, the pair will make a strong growth and a breakdown of 0.9010.
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