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.

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