EUR/GBP Technical Analysis: Euro erases losses against Sterling as the market trades back up near 0.8750 level

• EUR/GBP is trading in a bear trend below its 200-period simple moving average (SMA).
• EUR/GBP recovers early losses and sticks to the 0.8752 level. Technical indicators are picking up  steam suggesting potential gains ahead with 0.8800 figure on the bulls radar.  
• On the flip side, supports to the downside are seen near 0.8700 and 0.8665 as the next level of support.  

EUR/GBP 4-hour chart

Main Trend:            Bearish

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

Support 1:              0.8722 October low
Support 2:              0.8700 figure
Support 3:              0.8665 March 22 low
Support 4:              0.8600 figure

Additional key levels at a glance: