EUR/GBP Technical Analysis: Bulls in charge above 0.8900 figure

• EUR/GBP bulls are trying to maintain the main bull trend as they are attempting to support the market above the 0.8900 figure.
• EUR/GBP is trading below its 50, 100 and 200-period simple moving averages on the 4-hour chart suggesting a bearish bias.
• However, the market is losing bearish momentum as the RSI, Stochastics and MACD are turning bullish from extreme oversold conditions. Short-term bullish targets can be located near 0.8940 August 14 high and 0.8974 (September 6 low). The targets can potentially become new short entry location.

EUR/GBP 4-hour chart

Spot rate:                0.8914
Relative change:     0.16%      
High:                       0.8938
Low:                        0.8876

Main Trend:            Bullish
Short-term trend:    Bearish

Resistance 1:         0.8940 August 14 high
Resistance 2:         0.8974 September 6 low
Resistance 3:         0.9000 figure

Support 1:              0.8896 August 14 swing low
Support 2:              0.8864, July 26 low
Support 3:              0.8840 supply level