EUR/GBP Technical Analysis: EUR/GBP reaches 0.9000 target - Bulls now eyeing 2018 high

EUR/GBP is extending the move up for the sixth consecutive day within the main bullish trend.
Mission accomplished for EUR/GBP bulls who took profits at 0.9000 figure. The market is now consolidating below the level as EUR/GBP keeps trading within the bull channel. Bulls are now looking to re-launch an attack to 0.9000 and target 0.9032, the current 2018 high.
A sustained bear breakout below 0.8965 would invalidate the bullish bias.

Flavio Tosti Independent Analyst

EUR/GBP 15-minute chart

Spot rate: 0.8982

Relative change: 0.11%
High: 0.9004
Low: 0.8970

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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