EUR/GBP Technical Analysis: Bulls find support at daily lows - 0.9000 target still in play

  • EUR/GBP bulls are working at keeping the main trend intact. 
  • EUR/GBP is trading in a bull channel as it found some support at the lower trendline and above 0.8940 support. The market is finding some resistance at the 50 and 100-period simple moving averages and bulls might need to create a double bottom in order to re-conquer the 0.9000 figure. 
  • A sustained bear breakout below 0.8940 would invalidate the bullish bias. 

EUR/GBP 15-minute chart

Spot rate:                0.8966

Relative change:     -0.07%     
High:                       0.9004
Low:                        0.8948

Main Trend:            Bullish

Resistance 1:         0.9000 figure
Resistance 2:         0.9032 current 2018 high
Resistance 3:         0.9100 figure


Support 1:              0.8965 supply/demand level
Support 2:              0.8940 August 14 high
Support 3:              0.8900 July 9 high
Support 4:              0.8868, 13 July high
Support 5:              0.8840 supply level

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