London Session Watch EURGBP

FX:EURGBP   Euro / British Pound
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 bar candlestick 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 bar candlestick 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.
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