EUR/GBP Technical Analysis: descending trend-channel breakout still elusive

   •  The up-move once again failed ahead of the 0.8800 handle, coinciding with a descending trend-channel resistance on 4-hourly charts.
   •  Short-term technical indicators remain mixed, suggesting a continuation of choppy trading within a broader range. 
   •  Reemerging Brexit risks could be the next big catalyst providing the required momentum to decisively break through the trend-channel. 

EUR/GBP 4-hourly chart

Spot Rate:  0.8780
Daily High:  0.8794
Daily Low: 0.8774
Trend: Neutral

Resistance
R1:  0.8799 (descending trend-channel resistance)
R2:  0.8821 (R2 daily pivot-point)
R3:  0.8842 (May monthly swing high)

Support
S1:  0.8762 (50-period SMA H1) 
S2:  0.8748 (S1 daily pivot-point)
S3:  0.8724 (weekly swing low)