The GBPEUR cross currency pair is getting stronger for already 6 weeks. Since November 12th, it broke a resistance line at 0.82. Before that, it was trading in a narrow range between 0.77 and 0.81.
Since November 12th, it has one direction: up. While the economic crisis weakened the US dollar against the all currencies, the pound didn’t make a correction. It stayed low, with the GBP/USD not able to settle above 1.50. It drifted there only for short periods.
1.0444 - 1
= 444 pips.
But we STILL shouldn’t join the Euro.