The base currency – EUR. The counter currency – GBP. The EUR/GBP rate represents the relationship between the two largest European currencies: Eurozone’s Euro and the British Pound. Because the economies of Britain and Europe are very closely connected, the EUR/GBP is a FX major, boasting a high trading volume. However, in the face of Brexit, the euro to pound rate is expected to rebound based on the news of the divorce from Europe.