It’s not exactly collapsing any more but still chewing through some bids on its potential journey to 0.7900 as the euro remains on the back foot
Having survived the attempts this week to break up through key resistance between 0.8035-50 the drop back through 0.7975 was the trigger to fall further ( an area I highlighted yesterday) that needed a little convincing before picking up some speed as longs bailed out on the Draghi chatter
The move lower has lent support to GBPUSD but the next tranche of bids may also cap further gains in that pair if EURUSD tanks lower again.
Delicately poised as I head off into the gloomy UK weather
Have a great week-end wherever it takes you, and and thanks once again for all your wonderful input
