EUR/GBP Technical Analysis: Euro consolidating gains after bull breakout above 0.8800 figure

• EUR/GBP is in a bear trend below the 200-period simple moving average on the 4-hour chart. 
• Bulls broke above the 0.8800 figure and the 50-period simple moving average. EUR/GBP is pulling back up as the market is trying to form a rounding bottom. The RSI, MACD and Stochastic indicators remain constructive to the upside in the near term. Next resistance is seen near 0.8847 (September 20 low).
• However, a bear breakout below 0.8800 can lead to a resumption of the bear trend.   

EUR/GBP 4-hour chart 

Spot rate:                0.8820
Relative change:     0.32%     
High:                       0.8827
Low:                        0.8797

Main Trend:            Bearish
Short-term trend:    Bullish

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

Support 1:              0.8800 figure
Support 2:              0.8764 June 8 low 
Support 3:              0.8700 May low
Support 4:              0.8620 current 2018 low
Support 5:              0.8400 May 2017 low