EUR/GBP: Making New Lows
EUR/GBP has resumed its downtrend by breaking the support at 0.8301. A support stands at 0.8225. Hourly resistances can be found at 0.8352 (28/11/2013 high) and 0.8391 (26/11/2013 high).
The break of the support at 0.8301 also invalidates the previous long-term mildly declining channel, indicating a steeper decline. Further medium-term weakness towards the supports at 0.8225 (28/12/2012 high) and 0.8082 (01/01/2013 low) is expected.