What is the EUR/GBP chart online?
The EUR / GBP currency pair is considered standard because it can be found in any brokerage Forex terminal EUR/GBP chart. It is easily predicted due to a huge number of analytical reports, so a novice can safely try out this tool!
The Euro /Pound sterling is considered the most liquid pair on the international currency market. It attracts the attention of traders around the globe because it includes monetary units of two economic leaders. United Kingdom and Europe are highly respected in the market and are considered to be among the most developed countries. They often have trade relations with them, so dollars and euros are very popular.
The European currency is interesting for traders for two reasons. First, it acts as a counterweight to the dollar, because it is a universal means of payment and exchange. Secondly, this foreign currency is considered relatively stable due to the confidently developing economy of the European Union.
The second component of the pair – us dollar-has long been a key reserve currency. It is used in several countries at once and can be used as a universal payment method.
How to trade FOREX EUR/GBP?
When working on the chart EUR/GBP pair, you need to pay attention to correlated instruments. For example, USD/CHF shows approximately the ratio between the European and Swiss currencies. The financial condition of Switzerland depends directly on the position of the EU, so the price fluctuations of these monetary units are almost identical.
GBP/USD is another correlated instrument. Due to the similarity of the charts of the pound and the Euro, it is possible to predict the fluctuations of the Euro Dollar on the pound-dollar in advance. Paying attention to the inverse and direct correlations, the trader can easily determine the next direction of the quote.
The largest profit is found on 15-minute timeframes. A good trading level of this instrument makes it the most popular on the world market. The exchange rate is constantly changing, so the investor can implement even risky strategies. You can use moving averages, MACD, or other indicators to determine directions.