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It is shown that two-component Wadati-Konno-Ichikawa (WKI) equation, i.e. a generalization of the well-known WKI equation, is obtained from the motion of space curves in Euclidean geometry, and it is exactly a system for the graph of the curves when the curve motion is goveed by the two-component modified Korteweg-de Vries flow. Group-invariant solutions of the two-component WKI equation which corresponds to an optimal system of its Lie point symmetry groups are obtained, and its similarity reductions to systems of ordinary differential equations are also given.