GBP struggles against the EUR

Data from UK was weak - inflation was lower than expected, retail sales disappointed and employment change was a touch weaker. Things are not looking good in the UK and with Brexit still looming large ever closer on the horizon, GBP may be poised for new lows. With fundamentals weakening, what of the technical outlook? With GBP/EUR also trading below the weekly Ichimoku cloud, the weakness of GBP is not just a symptom of USD strength. GBP could be facing dark days ahead...