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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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