EUR/GBP is characterized by strong long-term trends and fair spreads. It is considered the 5th Major allthough it is a Forex Cross.
■ Forex Pair: The Euro (EUR) against the British Pound Sterling (GBP)
■ Forex Slang: CHUNNEL
■ Currency Reserves: $762 billion (ECB) against $164 billion (UK)
■ Population: 510 million (EU) against 63.7 million (UK)
■ GDP: $16,500 billion (EU) against $2,760 billion (UK)
■ DEBT/GDP: 92.11% (EU) against 89% (UK)
■ Current Account: +$351 billion (EU) against -$123.5 billion (UK)
Although EUR/GBP is a Forex cross, it is considered the 5th major pair (the others are EUR/USD, GBP/USD, USD/JPY, and USD/CHF). Euro is the second most important reserve currency in the world, and the British pound sterling is the third.
The pair enjoys high liquidity and large trading volume. EUR/GBP is traditionally offered in fair spreads and that makes it a good choice for day trading and scalping Forex.
These are some key facts about EUR/GBP:
-The Euro is involved in about 39% of all currency transactions
-The British pound is involved in about 13% of all currency transactions
-Both currencies are used as Reserve Currencies by global central banks
Compare the EURGBP Trading Conditions
These are some regulated CFD providers offering Forex trading, all brokers provide segregated client bank accounts and have been in the market for a period of at least 5 years.
Part of Dukascopy Swiss Group
■ ECN TRADING: YES (SWFX MARKET)
EURGBP: 0.5 pip plus trade commissions $3.5 full-traded /lot
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-Indices, Gold, Silver, Crude Oil, and many shares from Germany
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10% under a policy
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