EUR/GBP Formed a Double Top at 0.8750

EUR/GBP has been moving to the upside for three weeks now, but it seems that the rally will stall at least temporarily, because the pair formed a very telling double top at the resistance at 0.8750 which is obvious on the four-hour time-frame. What is more, EUR/GBP has also formed a hanging man candlestick at the same four-hour time-frame, also at the resistance at 0.8750. Both are good signals for an impending move to the downside and should those signals prove valid there will likely be a drop towards the last low at 0.8655. A breakout below that support could lead to a further move to the downside towards 0.8620, which is the (MA)89 indicator on the four-hour time-frame.