EUR/GBP Technical Analysis: Bears driving EUR/GBP down and looking at 0.8800 figure

• EUR/GBP main bull trend is on hold for the fourth consecutive week.  
• EUR/GBP is trading below its 50, 100 and 200-period simple moving averages while the RSI, MACD and Stochastics are in bearish territories. Targets to the downside can be located near 0.8840 supply level and 0.8800 figure.
• A bull breakout above 0.8940 would invalidate the current bearish bias.

EUR/GBP 4-hour chart  

Spot rate:                0.8878
Relative change:     0.01%      
High:                       0.8911
Low:                        0.8870

Main Trend:            Bullish
Short-term trend:    Bearish

Resistance 1:         0.8896 August 14 swing low
Resistance 2:         0.8940 August 14 high
Resistance 3:         0.8974 September 6 low
Resistance 4:         0.9000 figure

Support 1:              0.8876 September 11 low
Support 2:              0.8840 supply level
Support 3:              0.8800 figure