The euro has been rallying strongly versus the likes of JPY and GBP of late but we’ve seen significant retrenchment today.
The euro continues to give ground against both those crosses. EUR/JPY is down to 113.90 from 115.65 just yesterday.
EUR/GBP is down to 0.8717 after retesting yesterday’s 0.8805 highs and failing. In fact, EUR/GBP has triggered my favorite pattern, the double top. The downside objective is 0.8655.
