GBP / USD is a very popular and high volume currency pair. However, there are many extreme ups and downs, and it is also famous as a speculative currency. Price movement is always unstable, so it is not suitable for Forex beginners. It is a recommended currency pair for trend followers as it is prone to big trends and trends. According to the Bank for International Settlements statistics, the transaction share by transit pair is 1st in Eurodollar, 2nd in Dollar Yen and 3rd in Pound Dollar.
Difficulty
Recommended for intermediate to advanced Forex. Extreme price movements are likely to occur, so it is possible that all funds will disappear with one shot. It is a currency pair for swing trading, but it is also suitable for scalping and day trading. Forex beginners are advised to first learn the habit of pound sterling movements.
Recommended trading time
GBP / USD trading becomes active when the London market opens. It will be actively traded until the end of the New York market. We do not recommend trading as Asian time is very quiet and lull.
Recommended trading style
Suitable for scalping, day trading and trend following, but especially for trend following. If you fit in, you can get a profit margin as much as you want, so it is highly recommended. However, when I go the other way around, I am completely defeated.
Economic indicators to watch out for
The UK economic indicators are influential and are at a level that greatly moves the market, so let’s take a closer look. The pound is very sensitive, especially in the UK, especially around the policy interest rate, GDP, unemployment rate, so be careful as it will move the pound significantly, the movement is also extremely troublesome because it fluctuates extremely unlike the euro and the dollar. is.
The US dollar is also the key currency, and it has a great impact on all currency pairs, not just this currency pair. Therefore, it is necessary to pay attention not only to the policy interest rate, GDP and unemployment rate, but also to the international situation such as politics, social situation and war.
When the pound moves
The pound is sensitive to British politics and interest rate policies. Knowing the nature of the pound’s extreme price movements rather than economic indicators or politics may be the first step. That is the biggest point to win in this currency pair.
When the US dollar moves
Not only US indicators, but also US government bonds (10 years, 30 years), Nikkei Stock Average, crude oil prices, etc. will affect. Also, in the case of the United States, as it is called the police of the world, it is very sensitive to the influence of world affairs. Please note that some economic sanctions and military activities can move the dollar significantly.
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