• EUR/GBP fell to multi-week lows, hit 0.7196, levels not seen since Aug 21st 2015
  
  
• EUR continues to be sold across the board from Europe open, furthering downside in the pair
  
  
• Contrasting BoE/ECB monetary policy outlooks weigh, Volkswagen woes are another EUR-negative
  
  
• Volkswagen shares fall nearly 20 pct; market cap down 14 bln euros, as U.S. widens probe on emissions scandal
  
  
• EUR/GBP has edged higher, paring some losses and is currently trading at 0.7214, with immediate support at 0.7196 (session low Sept 22) and then at 0.7179 (100 DMA)
  
  
• Downside is beginning to look overstretched, stochs on 4-hour charts are closing in on oversold levels
  
  
• Short-term bounce back is likely, good to buy dips around 0.7210, SL: 0.7180, TP: 0.7250

Resistance Levels:

R1: 0.7285 (Daily High Sept 21)

R2: 0.7295 (10 DMA)

R3: 0.7307 (200 DMA)

Support Levels: 

S1: 0.7211 (Hourly Low Sept 22)

S2: 0.7179 (100 DMA)

S3: 0.7177 (61.8% of 0.7027 - 0.7421)