EUR/GBP Technical Analysis: EUR/GBP blasts higher and test 0.9000 figure as UK PM May rejects the EU's proposals

EUR/GBP is resuming its main bull trend as the GBP has been hit hard by comments from UK Prime Minister Theresa May which warned of a potential “no deal” on Brexit.
EUR/GBP bulls objective is re-conquer the 0.9000 figure and the 0.9032 level (August 9 high).
EUR/GBP bulls made a statement as they re-conquered the 50, 100 and 200-period simple moving averages while the RSI, MACD and Stochastics indicators have turned bullish. Dips are likely going to become buying opportunities.

Flavio Tosti Independent Analyst

EUR/GBP 4-hour chart

Spot rate: 0.8981
Relative change: 1.19%
High: 0.8995
Low: 0.8872

Main Trend: Bullish

Resistance 1: 0.9000 figure
Resistance 2: 0.9032 August 9 high
Resistance 3: 0.9100, current 2018 high

Support 1: 0.8974 September 6 low
Support 2: 0.8940 August 14 high
Support 3: 0.8896 August 14 swing low
Support 4: 0.8876 September 11 low
Support 5: 0.8840 key level
Support 6: 0.8800 figure

Author

Flavio Tosti

Independent Analyst

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