Forex rate chart EUR GBP
EURO vs Great Britain Pound
EUR GBP is the most popular and liquid cross rate with regard to USD. The fact that the leading economy of the European Union has not switched to the common currency makes forex EUR GBP pair practically unique. The influence of US dollar on the pair dynamics is average.
Euro British pound currency pair is especially attractive for beginners with its stable and predicted volatility. That is associated with the equal dependence of the currencies on the EU economy and similar structural problems. The daytime movement rarely exceeds 70-80 points, and if we take into account the high cost of a point of this cross rate, the most intelligent intraday scalping can bring a trader a high profit.
Euro British pound rate copies EUR/USD chart with a high degree of accuracy, only it has less volatility. No strong dependence on direct quote for GBP/USD is seen; however, it is recommended to track it since speculative demand for pound can cause price peaks with regard to EUR GBP in the absence of a similar movement in Euro.
The following fundamental factors influence the current Euro British pound Forex forecast: the main economic indicators of Great Britain, Eurozone, and the USA (discount rate, GDP, inflation, unemployment level, CPI, PMI, etc.); Statements made by officials and financial structures of those countries, European and American financial regulators; Monetary policy statements and events, as well as the difference between the interest rates of ECB and the Bank of England; European stock market indexes FTSE 100, DAX, CAC 40.
That is the most liquid cross rate in the period of the European session. The main volume: exchange transactions by ECB and the Bank of England, hedging operations, commercial and long-term option contracts.