EUR/GBP Technical Analysis: Buying to reemerge on a sustained move back above 0.8800 handle

   •  The cross stalled its recent goodish up-move to two-week tops and started correcting from closer to a resistance marked by the top end of a short-term ascending trend-channel.

   •  Slightly overbought conditions on the 1-hourly chart might have prompted some profit-taking, albeit bullish oscillation on the 4-hourly chart seemed to help limit deeper losses.

   •  Given that the cross is holding comfortably above 100 & 200-hour SMA, the fact that the intraday slide found some support near 50-hour SMA point to the reemergence of buying interest.

   •  A sustained move back above the 0.8800 handle will reaffirm the positive bias and assist the cross to build on its recent recovery move from eight-month lows set on January 25th.

EUR/GBP 1-hourly chart