EUR/GBP Technical Analysis: Extends positive momentum beyond 0.90 handle post-UK PMI

   •  The cross stalled last week's sharp corrective slide from near one-year tops and managed to defend a short-term descending trend-line support, extending from mid-June. 

   •  The cross opened with a bullish gap in wake of the EU chief negotiator Michel Barnier's Brexit comments over the weekend, opposing the UK PM Theresa May's latest Brexit proposal.

   •  The cross built on the positive momentum further beyond the key 0.90 psychological mark post-UK manufacturing PMI, coming in to show a larger than expected decline in August.

   •  Meanwhile, technical indicators on the daily chart have started picking up positive momentum and thus, increase prospects for an extension of the pair's intraday bullish move. 

EUR/GBP daily chart

Spot Rate: 0.9006
Daily Low: 0.8967
Trend: Bullish

Resistance
R1: 0.9033 (R3 daily pivot-point)
R2: 0.9075 (horizontal zone)
R3: 0.9100 (round figure mark)

Support
S1: 0.8967 (current day swing low)
S2: 0.8940 (ascending trend-line support)
S3: 0.8908 (S2 daily pivot-point)