The euro is not spared from the pound’s downfall
Value now could be testing the 100-hour MA (purple line) @ 1.1291 and a break beneath that might flip the near-term sentiment extra bearish once more. The pound seems to be destined to retest the yr’s low @ 1.2662 in opposition to the greenback until Theresa Could can pull off a miracle to salvage the scenario at hand. Such a transfer will not directly drag the euro decrease versus the remainder of the most important bloc as nicely.
If the 23.6 retracement stage @ 1.1283 provides approach, we’re a transfer again in the direction of the yr’s low @ 1.1216 with solely minor swing area resistance @ 1.1250 standing in the way in which of that.