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  • EUR/GBP is consolidating gains as the bulls are trying to resume the main bull trend while  they are finding some suppport near the 0.8900 figure.
  • EUR/GBP is a having a 61.8% Fibonacci retracement from the last bull leg (Sept. 20-21 move up). EUR/GBP bulls want to resume the bull trend and their first objective is to break above 0.8940 (August 14 high) to then target 0.9000 figure.  
  • A bear breakout below 0.8840 would invalidate the bullish bias.  

EUR/GBP 4-hour chart

Spot rate:                0.8904
Relative change:     -0.12%      
High:                       0.8938
Low:                        0.8884

Main Trend:            Bullish

Resistance 1:         0.8940 August 14 high
Resistance 2:         0.8974 September 6 low
Resistance 3:         0.9000 figure
Resistance 4:         0.9032 August 9 high
Resistance 5:         0.9100, current 2018 high

Support 1:         0.8896 August 14 swing low
Support 2:         0.8876 September 11 low
Support 3:         0.8840 key level
Support 4:         0.8800 figure