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   “¢   The pair’s early uptick met with some fresh supply near 50-hour SMA, with bears now looking to extend last week’s retracement slide from over four-month tops.  

   “¢   Short-term technical indicators are gradually picking up negative momentum and a follow-through weakness below 100-hour SMA will reinforce prospects for additional weakness.  

   “¢   Only a sustained move beyond daily swing high might negate the negative outlook and pave the way for the resumption of the prior appreciating move.  

EUR/GBP 1-hourly chart

Spot rate: 0.8920
Daily High: 0.8936
Trend: Short-term bearish

R1: 0.8636 (current day swing high)
R2: 0.8975 (R2 daily pivot-point)
R3: 0.9000 (psychological round figure mark)

S1: 0.8910 (S1 daily pivot-point)
S2: 0.8874 (last Thursday’s swing low)
S3: 0.8820 (200-day SMA)