EUR/GBP: lack of liquidity for now. But what's the next move?

Due to the lack of liquidity and movement at this time of the year, the market is moving slow and acting choppy. Taking a look at the previous number of candle closures, me may observe that the price does not have enough juice to break through the borders of the LTF sideways-moving range. Therefore, we are expecting for a re-touch of the recently-formed reversal pattern and a formation of a Double Top before a full-scale drop. The 0.87 area of previous resistance now turned into support that nicely aligns with the 50% Fibonacci retracement level smells like the initial target zone for the price to visit before continuing its bullish movements in the pre-determined direction.

Long story short, we are awaiting a re-touch of the 0.8833 level and a formation of a valid Double Top pattern before the price commences descending. We will keep monitoring the price development and act accordingly.