EURGBP is a cross fx between EURUSD & GBPUSD. It is less volatile than either EURO or GBP. The pair is impacted by following factors: 1. Central Bank policies of Eurozone: A hawkish guidance from ECB or any QT (Quantitative tightening) measures by ECB will lead to stronger Euro & hence a higher EURGBP if GBPUSD remains constant.
