EUR/GBP Technical Analysis: Euro erasing three weeks of gains in two days against Sterling as the market approaches October lows

• EUR/GBP is trading in a bear trend below its 200-period simple moving average.  
• EUR is losing three weeks of gains in the last two days as the bears are driving the market below the 0.8800 figure. The bias is bearish however, the RSI and Stochastic indicator are already in oversold territories.  
• Targets to the downside can be located near 0.8752 (October 16 low) and 0.8722 (October low).

EUR/GBP 4-hour chart

Main Trend:            Bearish

Resistance 1:              0.8800 figure
Resistance 2:              0.8847 September 20 low  
Resistance 3:              0.8847 September 20 low  
Resistance 4:              0.8876 September 11 low
Resistance 5:              0.8900 figure  

Support 1:              0.8752 October 16 low
Support 2:              0.8722 October low
Support 3:              0.8700 figure

Additional key levels at a glance: