EUR/GBP Technical Analysis: Euro breaks below 0.8800 figure and is set to close below the 200-day simple moving average

• EUR/GBP is set to close this Friday below the 200-day simple moving average for the first time since early July. This is to be interpreted as strongly bearish.
• The RSI, MACD and Stochastics indicators are all bearishly configured.  
• EUR/GBP is seen drifting lower in the coming weeks with 0.8700 (May low) and 0.8620 (current 2018 low) as main targets to the downside.  

EUR/GBP Technical Analysis

Spot rate:                0.8791
Relative change:    -0.58%      
High:                       0.8849
Low:                        0.8788

Main Trend:          Bearish

Resistance 1:         0.8800 figure
Resistance 2:         0.8847-40 September 20 low and 200-DSMA (key support)
Resistance 3:         0.8876 September 11 low

Support 1:         0.8764 June 8 low  
Support 2:         0.8700 May low
Support 3:         0.8620 current 2018 low