![]() But rise from 0.6935 (2015 low) is expected to resume at a later stage, to 0.9799 (2009 high).ĮUR/GBP failed to sustain above 0.8700 last week and retreated. In the long term picture, long term range pattern is extending. However, rejection by 0.8700 will keep the down trend alive for another fall through 0.8491 at a later stage. Rise from 0.8491 could then be another leg inside the pattern and targets 0.8977 and above. Decisive break of 0.8700 resistance will argue that this decline has completed with three waves down to 0.8491. In the bigger picture, the down trend from 0.9267 (2022 high) is seen as part of the long term range pattern from 0.9499 (2020 high). Firm break of 0.8629 resistance turned support will turn bias back to the downside for 0.8568 support first. Nevertheless, rejection by this resistance will maintain bearish outlook that larger down trend is not over. On the upside, decisive break of 0.8700 resistance will carry larger bullish implication and bring stronger rally to 0.8874 resistance next. Initial bias remains neutral this week and some more sideway trading could be seen. In addition, it is important to consider major economic changes in the UK and the EU, including GDP figures, import/export data, employment statistics and inflation rates.Įxplore the EUR/GBP forex chart at to keep track of the euro to pound rate changes in real-time.EUR/GBP stayed in consolidation below 0.8704 last week and outlook is unchanged. When trading the euro to pound forex pair, it is recommended to pay attention to economic releases and changes in monetary policy made by the institutions in control – the European Central Bank and the Bank of England. Since then, this currency pairing has fluctuated in price quite unpredictably, primarily due to the uncertainty surrounding Brexit. ![]() In mid-2015, the EUR/GBP rate started to recover from the crisis, climbing back to 0.9 in October 2016. ![]() However, the uplift was short-lived: another sharp decline happened once the Great Recession hit the global financial markets. In 2007, the pair entered a bullish trend, skyrocketing to 0.958 by December 2008. ![]() For the next few years, the EUR/GBP chart remained rather flat. However, the Eurozone’s currency then quickly gained upside momentum, reaching 0.723 by May 2003. Over the next few months, the EUR had fallen against the GBP dramatically, with the pair’s rate dropping as low as 0.585 in October 2000. The pair started trading in 1999 at a rate of 0.7. Throughout its history, the EUR/GBP pair has witnessed a lot of volatility, characterised by multiple price fluctuations. In 2019, its transactions made up 2 per cent of daily trades, making it the ninth most-traded currency pair in the market. Its great liquidity and moderate volatility boost the EUR/GBP trade volumes and make the pair attractive to all types of traders, newcomers and professionals alike. The opportunity to exchange euros directly for British pounds offers protection from any volatility associated with the US dollar.Īs it represents two of the world’s most influential economies, the European Union and the United Kingdom, the EUR/GBP pair has a very strong position in the forex arena. In recent years this type of forex pair has attracted many international traders. This means that the pair is traded directly, without being first converted into the US dollar. The EUR/GBP is an example of what is known as a cross-currency pairing. ![]() Therefore, the popularity of this forex pair ensures that it trades at a tight spread.Īccording to the historical euro/British pound chart, the pair reached a record low of 0.585 in October 2000 and a record high of 0.958 in December 2008.įollow live euro to pound rate on to spot the best trading opportunities. The EUR/GBP chart shows how many British pounds - which is the quote currency - are needed to buy one euro - the base currency.īoth the GBP and the EUR are included in the list of four most traded currencies in the world, making the EUR/GBP one of the most popular cross-currency pairs in the foreign exchange market.Ī high volume of continuous trade combined with excellent liquidity results in the reduced bid and ask price differences. The EUR/GBP pair represents the relationship between the two key European currencies: the Eurozone’s euro and the British pound. EUR/GBP Discover the latest EUR/GBP rate with our comprehensive live chart. ![]()
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