Will the Euro remain steady versus the Pound?

Last Friday we saw how the Euro rallied versus the Pound and it reached the 55 Day Exponential Moving Average, which is located just below the 0.8000 round number level. On the Daily chart below of the EUR/GBP, we can see that the pair has stayed within the range between the 0.7900 level and the 0.8000 level. During today’s session the pair tried to come back down and depending on how the upcoming fundamentals out of the Eurozone and the UK come out, we may see a continuation of the bearish trend or a higher correction. However, because the ECB and the BOE are implementing different monetary policies, the balance is tilting more towards more strength on the Pound than on the Single Currency.