EUR/GBP Technical Analysis: Euro stays in range against Sterling above 0.8800

• EUR/GBP has been trading in the 0.8800-0.8830 range for the last two days. 
• EUR/GBP broke below the bull channel and is currently undecided which direction to take next. 
• A breakout below the 0.8800 level can lead towards a move near the 0.8770 level, the daily 50-period simple moving average (SMA). 

EUR/GBP 15-minute chart

Spot rate:                0.8816

Relative change:     0.15%     
High:                       0.8830
Low:                        0.8802

Trend:                     Neutral

Resistance 1:         0.8822-0.8840 area, 200-day SMA and supply level
Resistance 2:         0.8861 weekly 50-period SMA
Resistance 3:         0.8900 figure
 
Support 1:              0.8800 figure
Support 2:              0.8770 daily 50-period SMA     
Support 3:              0.8720, June low
Support 4:              0.8700 figure