The EUR/GBP pair fell for the start of the week, only to have the market bounce again over the last several sessions. The pair formed a hammer at the end of the week, and this was preceded by a shooting star. This shows how conflicted traders are in this market presently. The pair is simply a battle between two very ugly currencies, and should continue to be choppy at best going forward. Because of this, we are not trading this pair for longer-term trades at the moment.