EUR/GBP has been in consolidation since April. The daily chart shows a market that has been in a triangle. Today, EUR/GBP broke above a short-term falling channel with a strong bullish candle and is testing the triangle resistance. Outside of the triangle, there is resistance up at 0.8636 and support at 0.8397. Breakout scenarios: Direction will be a bit more clear if the market can push above 0.8640, and hold above 0.86 upon any subsequent throwback. This would be a bullish scenario, opening up the resistance around 0.8790 and above. Below 0.8397, the market will likely also break below the 200-day SMA, which could ... (full story)