The PMI figures caused the natural jump in the pound and that sent EUR/GBP though strong support at 0.7960 and we’re struggling to take the level back

EUR/GBP weekly chart 02 07 2014

EUR/GBP weekly chart 02 07 2014

While it holds it puts the emphasis firmly on the downside and there’s not much in the way until the July 2012 lows at 0.7750