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Thinking of trading EURGBP?

    1. Due to the many economic events that both currencies share, traders that base their strategy on fundamental analysis can easily play the market. Also due to the symbiotic relationship of both currencies, many events will affect both currencies similarly. 2. The Euro and the British Pound have low volatility outside of market events and political news, this offers benefits to their traders due to their stability. It is known as a trending pair, as it tends to fall or rise for long periods of time with little fluctuation in the intermediate periods.
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The cross rate composed with the Euro and the Pound is often referred as the Chunnel. The name comes from the Channel Tunnel that connects Britain and France, linking the UK and the Euro zone. The EUR, regardless of it being a relatively new currency has come a long way, it was introduced at the end of the 20th century and it is currently on of the top 5 most traded currencies. The sterling, decimalised in 1971 is at the moment the fourth most traded currency in the FX market. Some of the most important historical events that have affected the GBP are, the USD depreciation in 1965, the UK's exit the Exchange Rate mechanism in 1991, in 2001 when the dot-com bubble burst and throughout the Brexit attempt to leave the EU in 2016. Its lowest point price was in October 2000, trading at 0.58513 and the highest was back in December 2008, when it traded at 0.95800. These two currencies are, as most of the currency pairs, affected by the interest rates decision of its respective countries and it is believed that the EUR/GBP has a strong positive correlation to GBP/USD and a strong negative correlation to EUR/USD on a daily and three-month scale.

1. Traders should keep an eye out for the monthly ECB (European Central Bank) reports release, with it, investors will be able to see data provided on the economic outlook of the European Union and the levels of interest rates throughout the EU, forecasting its impact on the pair. Together with the Interest Rates data, employment figures also play a large role in the movement of the GBP/USD. 2. When it comes to the GBP's reaction to events, one of the most important would be the monetary policies by the Bank of England (BoE). GDP (Gross Domestic product) is also considered one of the most important economic indicators to the UK's overall health and should be watched by those attempting to trade the GBP/USD.