EUR/GBP Technical Analysis: Euro bulls challenging the 0.8900 figure

EUR/GBP is trading in a bull trend above the 200-period simple moving average on the 4-hour chart.
EUR/GBP is holding above 0.8850 as the 50 SMA crossed above the 100 SMA. Technical indicators remain bullish although the Stochastic is in oversold condition.
The next level to break for bulls is 0.8900 followed by the 0.8950 level. Meanwhile, a break below 0.8800 would most likely be a warning signal for bulls.

Flavio Tosti Independent Analyst

EUR/GBP 4-hour chart

Spot rate: 0.8879
Relative change: 0.06%
High: 0.8893
Low: 0.8861

Main Trend: Bullish

Resistance 1: 0.8876 September 11 low
Resistance 2: 0.8900 figure
Resistance 3: 0.8950 figure
Resistance 4: 0.9000 figure

Support 1: 0.8876 September 11 low
Support 2: 0.8847 September 20 low
Support 3: 0.8800 figure
Support 4: 0.8752 October 16 low
Support 5: 0.8722 October low

Author

Flavio Tosti

Independent Analyst

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