Forex Currency - The Great British Pound – GBP

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The Great British Pound, also known as Pound Sterling, is among the top most traded currencies in the forex market. The GBP also acts like a large reserve currency, because of its relative value compared to other major global currencies. The U.K is an official member of the European Union currently, but its planned exit is due to go through in March 2019. It has chosen not to adopt the Euro as its official currency for various reasons, particularly to maintain control of domestic interest rates, and historic pride in the pound.

 

That is the reason why a lot of Forex traders will base the value of the Great British Pound with the political stability of its government and the overall strength of the British economy. The high value of the pound relative to other currencies, means that it is a crucial currency benchmark for a lot of countries, since it acts as a very liquid component in the forex market.

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Did you know?

Did you know the coins and currency-pairs have nicknames? The British Pound is called sterling. The EUR/GBP pair is nicknamed Chunnel, the the GBP/USD pair is Cable and the GBP/JPY pair is called Gopher.

See the latest analysis of the GBP pairs

GBP/JPY H4 vol/wav

Buy GBPJPY

GBP/JPY | Long | H4 Timeframe: H4 Analysis Method: vol/wav Analysis: The price has picked up the bullish trend. Go long on a retracement to

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GBP/JPY H4 vol/wav

Sell GBPJPY

GBP/JPY | Short | H4 Timeframe: H4 Analysis Method: vol/wav Analysis: The volume and price action indicate a bearish trend reversal. The pair may head

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GBP/JPY H1

SHORT GBPJPY

GBP/JPY | Short | H1 Timeframe: H1 Analysis: GBP came out with worse than expected PMI, fundamentally GBP is doing worse and has a bearish

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GBP/JPY H4 Wave analysis

GBPJPY BUY after correction

GBP/JPY | Long | H4 Timeframe: H4 Analysis Method: Wave analysis Analysis: Broke 4H structure. Currently in correction mode. Trade Plan: Will wait for correction

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GBP/JPY H4 vol/wav

Buy GBPPY

GBP/JPY | Long | H4 Timeframe: H4 Analysis Method: vol/wav Analysis: Widespread up bar Orderblock zone just below 166.00 Buyers looking to test 167.00 Trade

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GBP/JPY H4 vol/wave

Sell GBPJPY

GBP/JPY | Short | H4 Timeframe: H4 Analysis Method: vol/wave Analysis: Wobbling around supply zone Weak GBP JPY oversold and BoJ looking to intervene Wait

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