The Euro/Pound represents a cross between two biggest economies in Europe – the Euro-zone and the United Kingdom. Given the economic proximity and interdependence between the two, the pair is significantly less volatile than many other Euro or Pound based crosses. The pair is particularly sensitive to changes in monetary policy between the Bank of England and European Central Bank.
EURGBP has traded into resistance with a break below slope support to mark a correction in the pair. Here are the updated targets & invalidation levels that matter.