The cross will tally a 0.40% weekly loss, and the daily chart shows that the bears are in command.
In the four-hour chart indicators gained momentum.
During Friday's trading session, the EUR/GBP rose slightly to 0.8540 showing mild gains. That being said, the bears asserted their influence during the week, leading to a weekly loss of 0.40% pushing the cross down to its lowest point since September.
In that sense, the main factor that is benefiting the Pound over the Euro is that the British economy is holding resilient while the European economies are showing signs of weakness. Moreover, markets are expecting less easing from the Bank of England (BoE) with a total of 125 bps of cuts vs the expected 150 bps from its European peer which also benefits the GBP. This week the ECB met and left its policy unchanged with subtle indications on when the easing will begin, and as for now, markets are seeing the first cut somewhere in Q2
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