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  • EUR/GBP main bull trend is currently taking a breather.
  • EUR/GBP grinding down below its 50, 100 and 200-period simple moving average while the RSI, MACD and Stochastics indicators are in bearish territories. All suggesting that bulls might not support the market near 0.8900 for much longer and the market can continue the slide down toward 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:                0.8890
Relative change:     -0.04%      
High:                       0.8905
Low:                        0.8883

Main Trend:            Bullish

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

Expert score

5

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