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EUR/GBP Pair for Easy Trading?
The EUR/GBP pair has often been overlook by many forex traders because of the small daily movement that this pair has. Its movement is generally between 80-100 points. But small as it is, if you are out to experiment with intraday system, this is a good currency pair to trade with.
The reason for this is that the EUR/GBP slow movement would give you time to enter and exit your positions, even if you are trading the 5 min charts
Another reason why it’s a good pair to trade is because it conforms extremely well to technical analysis. You only have to plot the RSI (14) on the 5 minute chart, along with Murrey Math lines, to see how well it bounces off of the overbought and oversold levels, so it’s ideal for scalping say 10-15 points, particularly in the evening/overnight session when the pair is largely range-bound.
Finally, if you are just starting out and wish to trade a relatively slow moving but predictable currency pair then the EUR/GBP with its very tight spreads is the ideal choice.
As you gain more experience, you may then want to consider the EUR/USD or GBP/USD pairs which are far more volatile and have greater daily ranges.
Tags: Currency Pair, Easy Trading, EUR/GBP Pair
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