EUR/GBP Technical Analysis: Bears want to break below 0.8900 figure

• EUR/GBP main bull trend is now halted as the market broke the 50-day simple moving average and the bullish trendline to the downside.
• EUR/GBP is currently testing 0.8896 (August 14 swing low). The next bearish targets are seen at 0.8864 (July 26 low) and 0.8840 (supply level). While the bias remains bearish short-term with the RSI, MACD and Stochastics are in full bearish mode, the market might need to enter a small consolidation phase first as EUR/GBP just found some support at the 0.8900 figure support. 
• A bull breakout above 0.9000 would invalidate the bearish bias.  

EUR/GBP daily chart

Spot rate:                0.8914
Relative change:     -0.30%     
High:                       0.8959
Low:                        0.8895

Main Trend:            Bullish
Short-term trend:    Bearish

Resistance 1:         0.8940 August 14 high
Resistance 2:         0.8965 supply/demand level
Resistance 3:         0.9000 figure

Support 1:              0.8896 August 14 swing low
Support 2:              0.8864, July 26 low
Support 3:              0.8840 supply level