The EURGBP has a double bottom

The break of the .8600 level in the EURGBP has started a massive squeeze higher which stalled at the 200dma today. This may hold as resistance in the coming sessions, but dips back to the .8600 level may serve as levels for good risk vs. reward for near term longs. The pair is projected to see .8900 again on the double bottom range extension.