Currency pair EUR/GBP Euro to British Pound is trading at 0.8724. The pair continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates a bearish trend in the pair Euro/Pound. Ichimoku Kinko Hyo Cloud near the level 0.8740 is expected to test the bottom of the cloud, from which it is expected to attempt a rebound and further develop the bearish trend with the target of falling near the level of 0.8640.
Euro Pound forecast EUR/GBP April 6, 2018
An additional signal in favor of the drop will be a test of the resistance area, as well as a test of the upper boundary of the bearish channel. Earlier, a medium strength signal was received for the sell of the Euro/Pound pair, due to the crossing of the signal lines at the level of 0.8745.
The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 0.8770, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes EUR/GBP stands with the breakdown of the lower border of the rising channel and the closing below the level of 0.8805.
