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  • EUR/GBP main bull trend is taking a breather as the market is trapped in an endless pullback since September 21.  
  • EUR/GBP is now approaching September 20 low (0.8847) and it will be interesting to see if bulls can support the market above the 0.8847 level.
  • The divergence on the RSI and Stochastics indicators suggest that bulls might start showing up in the near future.   However, a bear breakout below 0.8847 would be seen as a negative for bulls.  

EUR/GBP 4-hour chart

Spot rate:                0.8875
Relative change:    -0.12%      
High:                       0.8938
Low:                        0.8884

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
Resistance 5:         0.9032 August 9 high
Resistance 6:         0.9100, current 2018 high

Support 1:         0.8876 September 11 low
Support 2:         0.8847 September 20 low
Support 3:         0.8800 figure