A couple things: In the Curr. Exchange Rate Service setup, can you tell me what you have as the Relational Exchange Rate Amt? The recommended value to use for most currencies is 1.0 (unless you're dealing with a heavily devalued currency).
When you do that, then the value you see in the "Exchange Rate Amount" field in your "Currency Exchange Rates - EUR" window will be the inverse of the amount you see in the currencies list page for EUR.
In your case, once you fix the Relational Exchange Rate Amt. to 1.0, if you have 1.129589 in the "Currency Exchange Rates - EUR" window for the most recent date (usually today, unless you're not updating every day), then you should see 0.885277 in the Currencies list page for EUR.
Why? Since your base currency is GBP, the "Currency Exchange Rates - EUR" page tells us that 1 GBP = 1.129589 EUR. And on the Currencies page, it shows the same information from the perspective of the EUR, i.e., 1 EUR = 0.885277 GBP.
Take a look at the setup I have below for FloatRates; obviously mine is for USD.xml, and yours will be for GBP.xml.
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