EUR/GBP Technical Analysis: bulls aiming to retest a key barrier near 0.8840 level

   •  Dismal UK manufacturing data prompted some aggressive GBP selling and helped build on Friday's rebound from the vicinity of 50-day SMA support.
   •  Momentum back above 100-day was key for buyers and remained supportive of the latest leg of a sharp upsurge.
   •  Short-term technical indicators have started moving in positive territory and thus, increase prospects for further appreciation, possibly even beyond the 0.8840 congestion zone. 

EUR/GBP daily chart

Spot Rate: 0.8821
Daily Low: 0.8773
Trend: Bullish 

Resistance
R1: 0.8839-42 (200-day SMA and May monthly tops)
R2: 0.8870 (horizontal resistance)
R3: 0.8900 (round figure mark)

Support
S1: 0.8788 (100-day SMA))
S2: 0.8759 (Friday's swing low)
S3: 0.8736 (S2 daily pivot-point)