EUR/GBP Technical Analysis: EUR/GBP finding support at 0.8900 level as UK PM May is taking control of Brexit negotiations.

• GBP had a small boost against EUR as UK PM May is going to take control of Brexit negotiations.
• EUR/GBP is still in a bearish correction following last week’s bull run. Bulls have just found some support at the 0.8900 figure which is also July 9 high.
• Failure to break below 0.8900 should lead to at least a continuation of the consolidation towards 0.8933 and at best the resumption of the bull trend above 0.8967 March 7 high.  

EUR/GBP 15-minute chart  

Spot rate:                0.8905

Relative change:      -0.21%      
High:                       0.8929
Low:                        0.8899

Trend:                     Bullish / Bearish correction

Resistance 1:         0.8933 July 18 high
Resistance 2:         0.8967 March 7 high
Resistance 3:         0.9013 November 12, 2017 high

Support 1:              0.8900 July 9 high
Support 2:              0.8868, 13 July high
Support 3:              0.8840 supply level
Support 4:              0.8820-0.8840 area, 200-day SMA  
Support 5:              0.8800 figure
Support 6:              0.8780 daily 50-period SMA
Support 7:              0.8764 June 8 low