EUR/GBP Technical Analysis: Euro rising near 0.8870 as British Foreign Secretary Boris Johnson resigns

• EUR/GBP got a boost as GBP lost value after British Foreign Secretary Boris Johnson resigns.
• EUR/GBP is now facing some resistance at last week’s high near the 0.8870 level. The next targets for bulls are likely located near the 0.8900 figure and 0.8967 March 7 high.
• EUR/GBP price action remains choppy with a bullish bias, so deep  pullbacks to the downside are to be expected.  

EUR/GBP 15-minute chart  

Spot rate:                0.8868

Relative change:     0.33%      
High:                       0.8874
Low:                        0.8813

Trend:                     Bullish

Resistance 1:         0.8864-0.8870, weekly 50-period SMA and current weekly high
Resistance 2:         0.8900 figure  
Resistance 3:         0.8967 March 7 high

Support 1:              0.8822-0.8840 area, 200-day SMA and supply level
Support 2:              0.8800 figure
Support 3:              0.8780 daily 50-period SMA
Support 4:              0.8764 June 8 low