EUR/GBP Technical Analysis: Euro consolidating the losses made on Thursday

• EURGBP is consolidating the bear move down saw on Thursday on the back of dovish European Central Bank comments. EUR/GBP  is trading above the 50 and 100-period simple moving averages (m15), suggesting bulls have regained some control.
• EUR/GBP has found support near the 0.8723 level, which is the 5 June low. The outlook remains neutral on the currency cross which is seen continuing evolving in a small range for the remainder of the session on Friday.  

EUR/GBP 15-minute chart

Spot rate:                0.8741

Relative change:     0.21%      
High:                       0.8758
Low:                        0.8718

Trend:                     Neutral

Resistance 1:         0.8756 daily 50-period SMA
Resistance 2:         0.8790 supply/demand level
Resistance 3:         0.8832-0.8844 area, 200-day SMA and 6 week’s high
Resistance 4:         0.8869 weekly 50-period SMA
       

Support 1:              0.8723, 5 June low
Support 2:              0.8700 figure
Support 3:              0.8683 April 27