EUR/GBP Is Climbing Again

EUR/GBP is moving to the upside again after making another unsuccessful attempt to break below the support at 0.8460 and in the process forming a double bottom at that level. What is more, the spinning top candlestick and the inverted hammer candlestick above the same support remain as very telling signals for an impending reversal. Currently the pair is testing the resistance at 0.8560 and a breakout above that level will likely lead to a further move to the upside towards the resistance at 0.8600, which coincides with the (MA)89 indicators on both the four-hour and daily time-frames. A breakout above that level and the formation of a new high will confirm the possible refersal.