EUR/GBP Technical Analysis: Consolidating last week’s gains below 0.9000 figure - Bulls can come back soon

EUR/GBP main bull trend remains intact as the market is trading above its 100 and 200-day simple moving averages.
EUR/GBP is finding some support at 0.8940 (August 14 high) as the market is consolidating the gains made last week.
While the RSI is bullish, the MACD and Stochastics indicators are losing some momentum. However, bulls can come back at any time and put an end to the pullback by lifting the market to 0.9000 figure and 0.9032 (August 9 high)

Flavio Tosti Independent Analyst

EUR/GBP 4-hour chart

Spot rate: 0.8962
Relative change: -0.09%
High: 0.8977
Low: 0.8940

Main Trend: Bullish

Resistance 1: 0.8974 September 6 low
Resistance 2: 0.9000 figure
Resistance 3: 0.9032 August 9 high
Resistance 4: 0.9100, current 2018 high

Support 1: 0.8940 August 14 high
Support 2: 0.8896 August 14 swing low
Support 3: 0.8876 September 11 low
Support 4: 0.8840 key level
Support 5: 0.8800 figure

Author

Flavio Tosti

Independent Analyst

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