EUR/GBP Technical Analysis: trend-channel breakout triggers the latest leg of sharp upsurge

   •  Brexit uncertainties provide the required momentum to finally breakthrough a one-month-old descending trend-channel resistance.
   •  Aggressive short-covering above the 0.8800 handle lifts the cross back closer to May monthly tops. 
   •  Bulls seem all set to continue with the momentum and the trend-channel breakout point should now protect the immediate downside.

EUR/GBP 4-hourly chart

Spot Rate:  0.8833
Daily Low: 0.8774
Trend: Bullish

Resistance
R1:  0.8842 (200-day SMA)
R2:  0.8874 (mid-March swing high)
R3:  0.8900 (round figure mark)

Support
S1:  0.8798 (trend-channel resistance break-point) 
S2:  0.8769 (daily pivot-point)
S3:  0.8754 (50-day SMA)