Chart of the day: Euro continues to struggle
The European Central Bank's Mario Draghi insists he will do "whatever it takes", and so the euro continues to struggle against other currencies, including the British pound. Trapped in a steady decline since 2013, this year saw an acceleration below its bottom edge, followed by a long, slow A, B, C-type correction. Best summed up as boring rectangle consolidation as it was so slow. However, it is suddenly looking more interesting, a sharp sell-off from the top of the pattern coincides with the bottom of the channel and the weekly Ichimoku cloud. A sustained break below 70 pence, maybe in thin year-end markets, suggests the trend will continue.