EURGBP not out of the tunnel yet

The one thing I like about Day and weekly chart is it prevents you from making hasty decisions to trade in and out of the market like the smaller timeframe.

Since July till now, almost 5 months later, the price action does not indicate EURGBP is out of the tunnel just yet. We are now reaching a few levels of support, though there might be some pull back but if GBP is getting stronger compared to other currencies, then, the price should continue to head southwards. The last straw is 0.78722.

If you are already in short position, congratulations. For buy, you may have to wait just a bit longer before we see a trend reversal.