EUR/GBP Rings in the New Year with a Bearish Breakout

From forexminute.com

The EUR/GBP has been bearish in 2014, but has been consolidating since October. The daily chart shows the choppy price action that turned into a triangle. The daily chart shows that during the second half of December, price was testing this triangle support. Price action cracked the triangle support, but the breakout was not clear. During the 12/31 session, price fell relatively sharply below 0.78 and EUR/GBP ended up breaking into a new low below the previous 2014-low at 0.7766. As we get started in the new year, EUR/GBP is bouncing back up from 0.7750. There were some manufacturing PMI data from Europe and the UK. ... (full story)