Currency pair EUR/GBP Euro to British Pound is trading at 0.8736. The pair continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend for the pair Euro/Pound. Ichimoku Kinko Hyo Cloud is expected to test near the 0.8750 level, from which it is expected to attempt a rebound and further develop the bearish trend with a view to falling near the level of 0.8650.
Euro Pound forecast EUR/GBP April 9, 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 0.8775, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations EUR/GBP stands with the breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo and the closing below the level of 0.8730.
