After the breakout of the multiple-bar inside bar candlestick
pattern that we covered on Monday, EUR/GBP
surged higher and continues to build up its strength since the breakout. There's a bullish engulfing
pattern in the making. If it closes at the current price or just above the previous candles' high, we will officially have a bullish engulfing
pattern which could lead the price higher in today's London session. On the flip side, the 200 period golden moving average could limit its upside movement. A break above these resistances could potentially lead to another surge higher in today's London session.