EUR/GBP Technical Analysis: Euro struggling near October lows against Sterling

• EUR/GBP is trading in a bear trend below its 200-period simple moving average.
• EUR/GBP has been under great bearish pressure in the last three days. In order the extend the bear trend sellers will need to overcome 0.8722 October low. Technical indicators are in ovesold condition suggesting a slowing down.
• The 0.8800 figure and 0.8847 (September 20 low) should act as resistance on any reversal attempt.  

EUR/GBP 4-hour chart

Main Trend:            Bearish

Resistance 1:              0.8800 figure
Resistance 2:              0.8847 September 20 low
Resistance 3:              0.8847 September 20 low
Resistance 4:              0.8876 September 11 low
Resistance 5:              0.8900 figure

Support 1:              0.8752 October 16 low
Support 2:              0.8722 October low
Support 3:              0.8700 figure

Additional key levels at a glance: