EUR/GBP Technical Analysis: Mission accomplished, 0.9100 target hit – EUR/GBP reaches yet again new 2018 high

• EUR/GBP bull trend is in full gear as the currency cross is printing new 2018 highs for the third consecutive day.
• EUR/GBP has overshot the bull channel suggesting that the buyers might have gone a little ahead of themselves. The market is likely to enter at least a sideways consolidation before resuming upward. The 50, 100 and 200-period simple moving averages are rising and widening suggesting a healthy bullish momentum. Targets to the upside are located at 0.9121 (September 10, 2017 high) and 0.9171 (September 8, 2017 open).  
• A sustained bear breakout below 0.9000 would likely invalidate the current bullish momentum.

EUR/GBP 15-minute chart

Spot rate:                0.9093
Relative change:     0.39%      
High:                       0.9100
Low:                        0.9053

Main Trend:            Bullish

Resistance 1:         0.9100 figure
Resistance 2:         0.9121 September 10, 2017 high
Resistance 3:         0.9171 September 8, 2017 open

Support 1:              0.9056 August 13, 2017 low
Support 2:              0.9048 current 2018 high
Support 3:              0.9032 former 2018 high
Support 4:              0.9000 figure
Support 5:              0.8965 supply/demand level
Support 6:              0.8940 August 14 high
Support 7:              0.8900 July 9 high
Support 8:              0.8868, 13 July high
Support 9:              0.8840 supply level