We still see EURUSD going down as the key support level of 1.10976 we mentioned on our last analysis has been broken enabling the downtrend to resume. Additionally, today EUR CPI data came in at 1.4% vs 1.5% expected whilst US GDP came through at 2.5% vs 2.4% expected and with the uncertainty surrounding Brexit, as well as the ECB expected to initiate QE in September, we anticipate further downward pressure on the currency pair.