EUR/GBP Technical Analysis: Euro is challenging the 0.8847 resistance as the next target becomes 0.8900 figure

EUR/GBP is attempting to reverse the drop of the last weeks of trading as it is trading above the 50 and 100-period simple moving averages.
EUR/GBP bulls broke above the 0.8800 figure and are now trying to break above 0.8847 (September 20 low). A sustained move beyond 0.8847 should open the gates to 0.8900 figure.
A break below 0.8800 figure would likely invalidate the current bullish momentum.

Flavio Tosti Independent Analyst

EUR/GBP 4-hour chart

Spot rate: 0.8844
Relative change: 0.36%
High: 0.8859
Low: 0.8805

Main Trend: Neutral

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

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

Author

Flavio Tosti

Independent Analyst

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