EUR/GBP Formed a Double Bottom on the Four-hour Time-frame

EUR/GBP has been moving to the downside for three weeks now, ever since the pair found resistance at 0.8720 and bounced off that level. However, it appears that the move to the downside will at least temporarily stall above the support at 0.8350, because there are several very telling signals above that level. First and foremost, there is a double bottom that is quite visible on the one-hour and four-hour time-frames, as well as a spinning top candlestick also on the four-hour time-frame. Also, the pair has formed a doji candlestick on the daily time-frame above the same level. Should those signals prove valid we can likely expect a move to the upside towards 0.8400 – 0.8440.