EUR/GBP Technical Analysis: Euro consolidates after attempting to breakout above 0.8840

• EUR/GBP had a 45-pip bull breakout in early European trade and the market has been consolidating the move up since then.  
• As 0.8839-0.8844 area is the daily 200-period simple moving average and the 6 week’s high, a strong bull breakout above the level would likely lead to a sizeable move up towards the 0.8900 level.

EUR/GBP 15-minute chart

Spot rate:                 0.8806      

Relative change:    0.32%      
High:                       0.8833
Low:                        0.8776

Trend:                      Bullish

Resistance 1:         0.8839-0.8844, 200-day SMA and 6 week’s high
Resistance 2:         0.8869 weekly 50-period SMA
Resistance 3:         0.8900 round figure

Support 1:               0.8788 current Monday’s low
Support 2:               0.8800 figure  
Support 3:               0.8754 daily 50-period SMA