EUR/GBP Technical Analysis: Euro retracing to 0.8850 level after hitting a new monthly high

• EUR/GBP is trading in a bull trend above the 200-period simple moving average (SMA) on the 4-hour chart.  
• EUR/GBP retreated quite sharply from the 0.8950 resistance and October high. It is now consolidating just above the 0.8847 support and the 50 and 200 SMA.  
• The RSI, MACD and Stochastic indicators have all turned bearish suggesting a pause in the bull trend.  

EUR/GBP 4-hour chart

Main Trend:            Bullish

Resistance 1:         0.8876 September 11 low
Resistance 2:         0.8900 figure  
Resistance 3:         0.8950 figure
Resistance 4:         0.8974 September 6 low
Resistance 5:         0.9000 figure

Support 1:              0.8847 September 20 low  
Support 2:              0.8800 figure
Support 3:              0.8752 October 16 low
Support 4:              0.8722 October low

Additional key levels at a glance: