EURGBP: (1H) Present for Mick and SoulTrader2004

[4xis2ez]

eurusd has a pip value of $10.00 per 100k lot. eurgbp has a pip value of $19.50 per 100k lot. So a 52 pip move in eurgbp is equal to a 100 pip move in eurusd in dollar terms.

[MickMason]

Eur/Gbp is a very useful cross to watch even if it's not traded in my opinion.

[Trader02]

Originally Posted by MickMason

Eur/Gbp is a very useful cross to watch even if it's not traded in my opinion.

It is because of this cross that I picked EURO for my LONG call vs USD and not GBP.

EURGBP went into a northbound rally on Jan 23rd. So any rally in EURUSD would upstage a similar rally in GBPUSD.

Also good to watch are EURCHF, EURCAD, EURAUD -- even if you don't trade them.

And AUDNZD to pick the winner and then go long against USD when DX is weak and the winner of this pair also trounces EUR and GBP.

Wisdom from the grave ......

[MickMason]

Originally Posted by Trader02

It is because of this cross that I picked EURO for my LONG call vs USD and not GBP.

EURGBP went into a northbound rally on Jan 23rd. So any rally in EURUSD would upstage a similar rally in GBPUSD.

Also good to watch are EURCHF, EURCAD, EURAUD -- even if you don't trade them.

And AUDNZD to pick the winner and then go long against USD when DX is weak and the winner of this pair also trounces EUR and GBP.

Wisdom from the grave ......

A lot were suckered into shorting Eur/Usd in the belief that as Cable had dropped on poor data the Eur was bound to follow, there's the benefit of watching the cross. The Cable move wasn't dollar driven.

Clue: EurUsd/Cable = Eur/Gbp

[Trader02]

0.6729 is my SHORT entry.

My goal is to be able to ride EURGBP's coming downleg on the DAILY timeframe for hundred of pips and just stay in the trade once it gets underway to the downside.

This is assuming my trend anaysis is correct in terms of direction.

My efforts so far have been just barely profitable/unprofitable, some good trades, 2 poor.

But if the downleg manifests itself, it will be lovely.

Why can't I just leave this pair alone?

I've tasted blood and cannot walk away from this carcass.

[Trader02]

Mick,

Have you traded GBPCHF?

I'm looking to add this pair to my watchlist.

I believe it was Boris Pasternak who said that, "a trader has fully grown up when he can handle the power of GBPCHF and ..... live to tell the story"