I'm not surprised that easyJet is suspending flights from Stansted to Valencia. When planning to travel on this route I would always compare easyJet's prices with those of Ryanair and there was invariably a considerable difference. I used to wonder who exactly would choose to fly easyJet and imagined that they might simply be unaware of the Ryanair alternative.
As far as LGW-VLC is concerned, easyJet should do well; despite BA commencing flights on this route, easyJet will, I expect, offer better fares.