EUR/GBP Technical Analysis: ascending trend-channel formation points to near-term bullish bias

   •  The cross has been trending higher within a short-term ascending trend-channel formation on the 4-hourly chart.

   •  With daily RSI (14) and MACD holding comfortably above the mid-point, a sustained move above the 0.8900 handle would reinforce prospects for an extension of the positive momentum. 

   •  The trend-channel support, currently near the 0.8825-20 region, might continue to protect the immediate downside amid reemerging Brexit concerns. 

EUR/GBP 4-hourly chart

Spot Rate: 0.8858
Daily High: 0.8875
Trend: Bullish

Resistance
R1: 0.8875 (current day swing high)
R2: 0.8907 (R1 daily pivot-point)
R3: 0.8930 (ascending trend-channel hurdle)

Support
S1: 0.8821 (200-day SMA)
S2: 0.8800 (July 4swing low)
S3: 0.8770 (S2 daily pivot-point)