If it's got an EUR tag on it it's falling today
EURGBP is edging through support at 0.7110/15 right now and it's another euro pair looking very shaky at the moment
EURGBP daily chart
There will no doubt be interest at the big figure and we're likely to see support around the 0.7080/85 level before looking at the 27 May lows at 0.7055. If we manage to break that also we face the 2007 support line at 0.7030, just ahead of the 2015 low at 0.7012
0.7000/12 is a big line in the sand for the cross and if that does go then there's a lot of empty air underneath to at least 0.6880/6900. The next decent long term support is not until the 0.6530/40 area.
EURGBP monthly chart
While EURUSD maintains 1.1200 EURGBP should be able to hold on to 0.7100 but either one could cause the other to go if their respective big figures break
We've tried and failed to push much higher and so it's natural to have this look lower. I'm still in shorts and looking for a decent attempt of the year's lows otherwise I might think about taking some more off if they hold
