EUR/GBP Is Consolidating

EUR/GBP is clearly caught in a relatively wide sideways consolidation between the support at 0.8745 and the resistance at 0.9020. That consolidation may get narrower though, because the pair found some additional support at 0.8835, formed a doji candlestick at that level on the daily time-frame and even though that candlestick is a signal for indecision and not reversal it may bounce off from the support, especially if it breaks out above at 0.8900, which is the (MA)89 indicator on the daily time-frame. If that happens there will probably be a further move to the upside towards the aforementioned resistance at 0.9020. On the other hand, if the pair continues falling it will likely drop to 0.8745 again.