EUR/GBP technical analysis: Surges to fresh 2-year tops and retreats, near mid-0.9200s

• The shared currency caught some aggressive bids in the last hour and lifted the EUR/GBP cross further beyond mid-0.9200s, or fresh two-year tops.
• The intraday dip was quickly bought into near an ascending trend-line support on the 1-hourly chart, extending since the beginning of this month.

The mentioned support is closely followed by 100-hour SMA - around the 0.9200 round figure mark, which should now act as a key pivotal point for short-term bullish traders. Meanwhile, technical indicators maintained their bullish bias on hourly/daily charts and continue to support prospects for an extension of the recent upward trajectory.
 
From current levels, the cross seems more likely to extend the positive momentum further towards reclaiming the 0.9300 handle - multi-year tops set in August 2017. Only a sustained breakthrough the mentioned handle might negate the near-term constructive set-up and prompt some aggressive long-unwinding trade around the major.
 
Below the mentioned support, the slide is likely to accelerate further towards mid-0.9100s, which if broken might confirm that the cross might have actually topped out in the near-term and set the stage for a further corrective slide towards the 0.9130 intermediate support en-route the 0.9100 round figure mark.

EUR/GBP 1-hourly chart