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EUR/GBP Technical Analysis: Euro retreats below 0.8800 figure as bears retake control of the market

FXstreet.com Tuesday, 16 October 2018
· *EUR/GBP is in a bear trend below the 200-period simple moving average on the 4-hour chart. *
· *EUR/GBP found resistance near the 0.8800 figure as the bears are resuming the bear trend. The RSI and Stochastic indicators are trading below the 50 line which is encouraging for bears.*
· *Targets to the downside can be seen near 0.8722 (October low) and 0.8700 (May low) as well as the current 2018 low at 0.8620 **EUR/GBP 4-hour chart *

Spot rate:                0.8765
Relative change:    -0.41%     
High:                       0.8812
Low:                        0.8752

Main Trend:            Bearish

Resistance 1:         0.8800 figure
Resistance 2:         0.8847 September 20 low 
Resistance 3:         0.8876 September 11 low
Resistance 4:         0.9000 figure

Support 1:              0.8764 June 8 low 
Support 2:              0.8722 October low
Support 3:              0.8700 May low
Support 4:              0.8620 current 2018 low
Support 5:              0.8400 May 2017 low
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