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   “¢   The cross has been trending lower along a descending trend-channel since the beginning for this week, albeit now seemed showing some resilience below the 0.8700 handle.

   “¢   The incoming negative Brexit headlines helped the cross to stage a modest rebound from over six-month lows and test the trend-channel hurdle ahead of the UK macro data.

   “¢   Technical indicators on the 1-hourly chart have been gaining positive momentum and support prospects for an eventual near-term bullish breakthrough the trend-channel hurdle.

   “¢   A subsequent move beyond 100-hour SMA will add credence to the constructive outlook and mark the end of the recent bearish trend, prompting a near-term short-covering move.


EUR/GBP 1-hourly chart

EUR/GBP

Overview:
       Last Price:  0.8712
       Daily change:  14  pips
       Daily change:  0.161%
       Daily Open:  0.8698
Trends:
       Daily SMA20:  0.8807
       Daily SMA50:  0.886
       Daily SMA100:  0.8884
       Daily SMA200:  0.8837
Levels:
       Daily High:  0.874
       Daily Low:  0.869
       Weekly High:  0.8942
       Weekly Low:  0.8757
       Monthly High:  0.8942
       Monthly Low:  0.8722
       Daily Fibonacci 38.2%:  0.871
       Daily Fibonacci 61.8%:  0.8721
       Daily Pivot Point S1:  0.8679
       Daily Pivot Point S2:  0.866
       Daily Pivot Point S3:  0.8629
       Daily Pivot Point R1:  0.8729
       Daily Pivot Point R2:  0.876
       Daily Pivot Point R3:  0.8779