EUR/GBP: Needs to break and hold above .8350 to form double-bottom

• Some very savvy prop traders have been building long positions in EUR/GBP over the last few weeks;
• Pair formed base at a major 61.8% retracement level near .8155;
• A break and hold above a potential neckline at .8350 would suggest a double-bottom pattern;
• Sentiment in the market is bullish EUR whilst positioning is GBP long- a perfect recipe for a move in the cross.

Buy dips or buy an .8350 break with a tight trailing stop.