The British pound has been losing pips to the euro so far in May. While there are no big headlines to explain the euro's gains against the pound, traders may be pricing in U.K. growth concerns and improved growth prospects in the Euro Area. Traders who may have priced in European Central Bank (ECB) June interest rate cut bets may have also taken cues from members who suggested that a June rate cut may be a "one and done" scenario. Will EUR/GBP break its current resistance levels and extend its uptrend this week?