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From : FX Daily Hotline: 23 January 2015
Chart of the day: Euro renews down v £...

 

After a short-lived bounce from oversold the Euro has renewed its decline against the British Pound.  Although the RSI is at a low level again, the overall picture on the right is very top heavy, and should ultimately lead to further weakness towards the £0.7000 region, though we recognise a couple of minor support levels beforehand near £0.7400-0.7100.  A short trade is re-opened in the pair, with the stop inserted at £0.7900 for now.

 






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