EUR/GBP Technical Analysis: EUR/GBP hits a new 2018 high

• EUR/GBP bull trend hit a new 2018 high at 0.9048 this Friday.
• EUR/GBP is progressing upward within the bull channel with rising and widening simple moving averages. The market is at the top of the channel while the RSI and Stochastics are in overbought territory suggesting that EUR/GBP might take a small pause in the uptrend. An extension of the bull trend can target 0.9056 and 0.9121. 
• A sustained bear breakout below 0.9000 would invalidate the bullish bias. 

EUR/GBP 15-minute chart 

Spot rate:                0.9042
Relative change:     0.38%     
High:                       0.9048
Low:                        0.9001

Main Trend:            Bullish

Resistance 1:         0.9048 current 2018 high
Resistance 2:         0.9056 August 13, 2017 low
Resistance 3:         0.9121 September 10, 2017 high

Support 1:              0.9032 former 2018 high
Support 2:              0.9000 figure
Support 3:              0.8965 supply/demand level
Support 4:              0.8940 August 14 high
Support 5:              0.8900 July 9 high
Support 6:              0.8868, 13 July high
Support 7:              0.8840 supply level