GBPEUR showing last few years LinREg from the Mean of 2 and 5

GBPEUR showing last few years LinREg from the Mean of 2 and 5 along with the 200 sma basically moving sideways. Although the GBPUSD gained 9.2% by December 2023 from its low.
looking forward to 2024 with a range between 1.12 and 1.20