The use of signals for GBP EUR is essential when you are a trader interested in trading that pair. However, before dedicating ourselves to understanding the use of its forex telegram signals, you must know the characteristics pair main and what makes it a good or bad pair.
What is the GBP / EUR pair?
The gbp / eur has over time become one of the most popular currency pairs available for traders to trade on the Forex market. GBP / EUR refers to the value of how many pounds sterling are necessary to buy one euro. The British pound (GBP) and the euro (EUR) are considered part of the eight most traded currencies in the world.
This is because, for example, as far as the average daily volume of foreign exchange is concerned, the euro is only surpassed by the United States dollar (USD).
What are trading signals?
Trading signals will always mean the same thing, regardless of which pair you are trading on. The trading signals refer to trading ideas or advice based on technical and fundamental analysis made by traders.
With a trade signal, the trader will be able to understand the currencies he is trading and at the same time know if he should buy or sell. In the GBP / EUR pair the signals play an important role when it comes to trading, because if the pair changes, the signals will tell you exactly how the currency pair is after such changes.
In order to be able to trade correctly in GBP / USD and at the same time understand it, it is vitally important to know the factors that affect both GBP and EUR.
What affects the GBP?
- Inflation: this is a factor that plays a crucial role, not only in GBP but in any currency. Normally, in countries with high levels of inflation, their monetary values depreciate more if compared to other currencies, especially if it is their even currency.
Inflation normally also implies that the central bank takes measures, among which may be the adjustment of interest rates.
- GDP / Economic growth: economic activity in the UK is another key factor. It is well known that the main measure of economic activity around the world is gross domestic product (GDP).
Normally the publication of the preliminary GDP estimate has a big impact on your currency.
- Political events: Normally if extraordinary or extremely important political situations arise in a country, this will represent a major impact in terms of the movement and stability of a particular currency. Ultimately Great Britain is a place where important events happen constantly, so it is of utmost importance to always keep an eye on the news.
What affects the EUR?
- Monetary policy:
All currencies are always affected by the monetary policies of their respective central banks. The European Central Bank (ECB), and all decisions made by them, in addition to interest rates, will have a significant impact.
- Economic data: Normally the most important economic data comes from Germany, because it is the largest economy in Europe, therefore any change will directly affect the euro. Normally the most important key data are GDP, inflation, industrial production and unemployment.
- Cross exchange rate effect: the euro may be affected due to movements in the cross exchange rates referring to the pair of which it is a part.
Benefits of trading GBP / EUR
- Volatility: This pair has high volatility compared to other major pairs. That is why it is a highly traded and quite famous pair.
- Variety of signal providers: Due to the fame of this pair, it is very easy to find reliable and well-known signal providers in the market.
- Easy to trade: Being such a straightforward and volatile pair, it is an easy pair to trade for any trader, making it perfect for beginning traders.
GBP/EUR Signals providers
Now let’s go to the signal part. When it comes to receiving GBP / EUR signals, you can find several providers that will provide you with the tools you need and the correct signals.
Without a doubt, this is one of the most famous providers in the market, since it even has more than half a million monthly visitors. This platform is responsible for publishing daily forex signals for almost all currency pairs (including GBP / EUR) and Bitcoin.
The signals provided by Daily forex bring with them a risk assessment percentage, as well as times for optimal trading and signals with specific instructions that will tell you whether to buy or sell.
This signal provider is very famous in the market, it is definitely one that you should take a look at. Its founder is veteran Joel Kruger and specializes in providing signals for beginning and professional traders.
JKonFX is a provider that bases its signals on six types of analysis. All of these analysis makes its signals quite accurate and specific. In addition to that their prices are quite low and profitable for the average trader.
This has been one of the top trading signal resources for first time traders. Mpr,ally the begginers are looking for a provider with good prices and good signals for many years. In MQL5 almost anyone can provide trading signals, however the other traders will decide if they are good quality. All of it means you can be guided by the reviews of each provider.
And in case you don’t trust it, MQL5 verifies all the commercial results of its suppliers. In the event that you want to receive individual signals from the platform, you must pay a signal fee of $ 20- $ 50.
Summary GBP EUR signals
The GBP / EUR pair has become a good option for various traders in the market due to its stability. It s also a pair easy to trade. When it comes to their signals, you can easily find them at any experienced signal provider. You can even find GBP/EUR Signals for free.
Always remember to make sure that the signals you receive are accompanied by their respective analyzes.