The EUR/GBP cross oscillates in a narrow band through the first half of the European session and currently trades around the 0.8425-0.8430 area, just below a one-week high touched earlier this Thursday.
EUR/GBP struggles to gain any meaningful traction and oscillates in a range on Thursday. The formation of a rectangle might still be categorized as a bearish consolidation phase. A convincing break below the 0.8400 round figure should pave the way for deeper losses. The EUR/GBP cross oscillates in a narrow band through the first half of the European session and currently trades around the 0.8425-0.8430area, just below a one-week high touched earlier this Thursday.
EUR/GBP 4-hour chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP .
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