Welcome again to our best signals for forex website! The EUR / GBP signals are a vital aspect in the life of the trader trading that pair. That is the main reason why finding the right signals providers and everything around it is impotant.
About the EUR / GBP
The EUR / GBP is considered the eighth most traded currency pair in the Forex market, this is because it is quoted at 4 decimal places based on supply and demand.
In addition, this pair has the peculiarity that it can be cited both ways. Therefore, you may find GBP / EUR parity on some brokers. In fact, the GBP / EUR pair has already been outlined above.
The EUR / GBP currency pair is very little volatile, it is recognized as a cross trend. This means that very long bullish or bearish trends with few intermediate fluctuations can be seen frequently at these crosses. We will always advise that this security be traded within the framework of traditional speculation.
As you may already know, the central bank linked to the euro is the ECB, and the one linked to the pound sterling is the Bank of England and its abbreviation is BoE. Therefore, it is important to follow the news and all communications from these two financial organizations to appreciate trading and future trends in the EUR / GBP pair.
The importance of supports and resistances in the analysis of EUR/GBP
Since the EUR/GBP pair is very little volatile, traders speculating on this value take into account the support and resistance phenomenon observed in real-time charts. This is where the EUR/GBP signals, take our call to action.
Technical analysis occupies a fundamental position to deduce the next trends and it is necessary to stay ready to act in good time according to these different psychological thresholds.
Of course, the ideal is to combine the information from the fundamental analysis and that from the technical analysis to have a concrete vision of the market.
Among the elements that most attract investors to some currencies compared to others and therefore the upward or downward trend of currency pairs, of course the interest rates set by large central banks should be highlighted.
Which agencies set the EUR/GBP rates?
Large central banks are the agencies responsible for determining the interest rates of currencies. For the euro, it is obviously the European Central Bank that decides and evolves this rate. And regarding the British Pound, its interest rate is set by the Bank of England, the central bank of Great Britain.
These rates and their evolutions are published each week in the economic calendar.
Why the rates influence the EUR/GBP price?
The interest rates of the currencies are surely the most influential elements in the Forex market, since they determine by themselves the attractiveness that a currency can have, without taking into account the external elements. Indeed, the higher the interest rate of a currency, the more profit it produces at the time of resale against another currency.
Thus, it is essential to compare the interest rates of the euro and the pound sterling at the time you position yourself and at the time of closing.
Tips for Trading EUR/GBP
Tip # 1
As with many Forex pairs, the EUR/GBP is very sensitive to numerous external factors. First, ad effects are probably the most impacting prices in the short term. To ensure that you don’t miss out on any important communication, consider checking the economic calendar daily, especially in the morning between 10 a.m. and 11 a.m. for news regarding the British pound, and before 2:30 p.m. regards the euro zone.
Tip # 2
The most important signs to follow are, in order:
- The GDP of each of these areas
- Capital inflows and outflows
- Monetary policies
In general, the set of political and economic events that they can have a psychological effect on investors and push them to buy or sell their positions.
Tip # 3
Also do not forget to take into account the exchange rate of each of these currencies with the other international currencies. For example, we know that when the euro or the pound sterling lose value against the US dollar, this favors their competitiveness for exports and, in the medium term, allows boosting the economy and, consequently, increasing the upward trend again. As an important extra it is always good to remember that using EUR/GBP Signals will make you a better trader and trading this pair won´t be so hard.
Finding the right EUR/GBP Signals
Now that we know the necessary about the EUR/GBP pair, let´s get to know how to use and which EUR/GBP Signals you should include in your daily life.
The EUR/GBP signals are professional trading advice for other traders who need to know what moves can be beneficial for your pocket and the EUR / GBP pair.
In the market you will find various providers in which you can trust to start using the services of EUR/GBP Signals.
Let´s give a look to a couple of them.
1000pip Builder is a leading forex signal provider that has managed to stay on top of providers.
This provider has follow-up results and also its forex signals in telegram include independent verification. The 1000pip Builder provider is responsible for producing solid and consistent results which also have a minimum reduction. Ypu will receive the signals via email and SMS with all important details.
Its price is $ 97 per month.
This is a considered low-cost provider, due to its affordable prices. It even offers free subscription plans that offer multiple monthly signals.
Their signals generate between 90 and 150 pips. In addition, its free signals are accompanied by analysis and entry and exit. You will receive all the signals through WhatsApp.
Your membership is $ 84 per month, which includes 8 to 12 trading signals. Their target profit of 300 to 700 pips. This being the basic plan.
EUR/GBP Signals summary
Getting a good provider of EUR / GBP Signals is almost as important as getting a good broker.
You must remember that a good supplier should always bring with them their technical analysis and a good custom service. All of it depends on your performance. EUR / GBP Signals will provide you with the help you are looking to become a good trader.