EUR GBP (Euro to Pound)

EUR GBP is the forex ticker that tells traders how many British Pounds are needed to buy a Euro.

Technical Analysis EUR GBP

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Trade the most popular forex pairs like EUR/USD, GBP/USD and EUR/GBP at Plus500. Use our advanced trading tools to protect your profits and limit losses. Trade forex with up to 1:30 leverage. With as little as £100 you can gain the effect of £3,000 capital! Use our trading tools such as Stop Loss, Stop Limit and Guaranteed Stop to limit losses and lock in profits. Get FREE real-time forex quotes and set indicators to easily analyse charts.

What is Forex and how does Forex trading work?

Forex trading (also commonly known as Foreign Exchange, currency or FX trading) is a global market for trading one country’s currency in exchange for another country's currency. It serves as the backbone of international trade and investment: imports and exports of goods and services; financial transactions by governments, economic institutions or individuals; global tourism and travel – all these require the use of capital in the form of swapping one currency for a certain amount of another currency.

When trading Forex CFDs, you are essentially speculating on the price changes in their exchange rate. For example, in the EUR/USD pair the value of one Euro (EUR) is determined in comparison to the US dollar (USD), and in the GBP/JPY pair the value of one British pound sterling (GBP) is quoted against the Japanese yen (JPY).

If you think the exchange rate will rise you can open a ‘Buy’ position. Conversely, if you think the exchange rate will fall you can open a ‘Sell’ position.

To see a full list of currency pairs offered by Plus500, click here.

How do you start trading Forex CFDs?

To start trading commodities with Plus500, simply:

  1. Sign up / Log in to your account.
  2. Search for the instrument you want to trade.
  3. Click the 'Buy' or 'Sell' button depending on the direction you think the commodity will move.
  4. Open a trade.

EUR GBP

EURGBP is the ticker symbol for the euro and British pound sterling exchange rate. The pair represents the biggest economies of Europe (the United Kingdom and the European Union) that are massively interlinked. Smooth flow of capital between the economies has made the EURGBP maintain a relatively stable price action compared to other forex pairs.

The EURGBP is a ‘cross pair’ (no USD) and falls under the ‘minors’ group in the forex market. Minors have cheaper spreads compared to exotic currency pairs. The pair is also known as ‘Chunnel’, which is a reference to the Channel Tunnel that connects the UK and France (Europe).

In the EURGBP forex rate, the EUR is the base currency, while the GBP is the quote currency. This means that at any given time, the price of EURGBP pair represents the amount of British pound sterling it would take to exchange for one euro.

History of EUR GBP Trading Pair

The history of the pound goes back to around 775 AD, which makes the currency, probably one of the oldest. The well documented UK colonial conquests cemented the pound’s dominance across the globe and at one time, it was the world’s primary currency, both in circulation and in reserve. But its current decimated form has its roots from 1971 when the Bretton Woods System collapsed.

As of October 2019, the GBP is the fourth most traded currency in the world, and major events that have greatly influenced its value include: the 1992 UK exit from the Exchange Rate Mechanism, the 2001 tech bubble burst and the 2016 Brexit when the UK public voted to leave the European Union.

On its part, the euro is a 20th-century currency, having been only introduced in 1999. The euro operated as an ‘invisible’ currency in its first three years, used only as electronic money and for accounting purposes. Coins and notes would be first introduced in January 2002 in 12 European Union countries.

The euro is now used in 19 out of the 28 EU countries. The major events that have influenced the value of the euro include the 2008 Eurozone recession and the 2015 €1 trillion Quantitative Easing program launched by the European Central Bank (ECB).