EUR/GBP Is Moving to the Upside

EUR/GBP reached the resistance at 0.8630 and bounced off of it, eventually retracing to the support at 0.8250. After forming multiple doji and spinning top candlesticks on the daily time-frame, as well as a spinning top candlestick on the weekly time-frame, the pair started moving to the upside. Currently it is testing the resistance at 0.8540 and if it succeeds it breaking above it EUR/GBP will likely continue climbing towards 0.8630. Once the pair reaches that level there are two likely scenarios – it will either form a double top and start moving to the downside again, or it will break above the resistance and continue climbing towards the previous high at 0.8768.