The EUR/GBP exchange rate is experiencing a sharp decline as it tests support at 0.8570, reversing last week's gains and rejecting resistance at 0.8610.
This move comes on the back of Brent Oil prices rallying above $100 per barrel, which is putting pressure on Eurozone economies.
The Bank of England Governor Andrew Bailey has hinted at higher rate hikes, providing fresh support to the Pound.
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