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EUR/GBP Forming a Topping Pattern in Resistance Zone

I have been stalking the EUR/GBP as it stalled around 0.74 and a previous resistance zone seen in the daily chart. Notice the previous key resistance pivots here and the fact that price is being challenged by the 200-day simple moving average this week.

EUR/GBP Daily Chart 8/27
(Click to enlarge)

Now, even though the market is starting to find resistance in this area, I would first limit the bearish outlook due to the recent strong bullish push. I would limit it first to the 0.7150-0.72 area, where we saw some key resistance in July and August. 

Let's take a look at how the market is forming the current topping attempt. 

EUR/GBP 4H Chart 8/27
(click to enlarge)

The 4H chart does seem to provide evidence that bears are holding the line around 0.74. So if price comes back up near this area, I would consider shorting with a target of 0.7175. The stop will likely have to be above 0.7450. Now, if this approach towards 0.74 comes in the form of a bullish engulfing candle, I would stay away until this momentum is rejected. Otherwise, we might have further upside risk in the short-term. 

Despite the bullish trend seen in the 4h chart, I am still uncomfortable buying EUR/GBP simple because it is still in the key resistance zone. I will need to see a break above 0.75 before considering buying on dips. The exception might be around 0.7150 in the short-term. But the bullish outlook from there would be limited to the 0.7380 area.