In my previous post, I observed a contracting triangle on the GBP-EUR weekly chart. In the past week, it looks like GBP has fallen below the triangle support and crossing over to a bearish pattern on the Daily and Weekly MACD.

[IMAGE: https://steemitimages.com/DQmTASH3DMmdhLuZ6VVsUYMAhKLKxKeFYtuJhFQRRgMBN4h/image.png]
[IMAGE: https://steemitimages.com/DQme6knnDB38gscVJHiozXd9qfdbpw8Yvs4N1PjxRyMWQYf/image.png]
Source: TradingView

With Theresa May's government and party's infighting and the tough EU rhetoric, it's worth staying off the technical analysis and re-analyse the fundamentals.

Note: I am an amateur trader and I am performing this exercise for my own research and analysis. This is by no means a form of financial advice and should be treated as a blog post for entertainment purposes. It is also based on historical data which may not be an indication of future price.