The interesting situation on pound pairs, including EUR/GBP, is, of course, related to the rather long, tiring process of Brexit. All the time the market is flooded with rumours and speculations about the future of Great Britain in the European Union. For the time being, the pound retains a certain strength because the possibility of leaving the community without any agreement is disregarded.
Yesterday, there were even rumours that the third vote on the agreement would take place later this week, despite the tradition that the rejected projects shouldn’t be put to the vote again. In exchange for the support of the Eurosceptic MEPs, Prime Minister May would resign. For the time being, however, there are no hard data or decisions. However, the pound continues to react quite positively to such rumors. The EUR/GBP weekly chart looks interesting. We have a break out from the side movement and a re-test of the level of resistance. According to the technical analysis, a better chance can be assigned to the sellers, although the issue of Brexit can completely change the whole technical system.