GBP To BGN Currency Chart
Great British Pound Sterling is one of the top and major currencies in the foreign exchange market. Pound Sterlings is traded profitably with any major currency. But when it comes to choosing a minor currency, forex traders face problems.
This time we are going to pair this major currency with the minor currency of forex market. Here we are with complete information about GBP to BGN currency pair.
All currency pairs in the forex market are affected by market volatility and liquidity. If you are also looking forward to trade forex pairs like GBP to BGN, then this post is just for you.
Let’s dive into GBP to BGN chart
Here, as a forex trader, you will learn how to trade GBP to BGN with the help of price chart analysis. The forex chart patterns are required to analyze for the money traders.
The money trading market is always volatile. So it becomes important to capture the market trends or market sentiment. For this you need to analyze with the help of technical analysis or fundamental analysis.
It does not matter if your trading approach is different from technical trading on any trading platform. All platforms and forex brokers will encourage you to analyze the financial instrument you will be trading. Keep investment advice from experienced traders in mind and let us create an accurate trading strategy.
GBP to BGN Current Forex Chart
Before we jump into the forex market as forex traders, let's see what forex trading charts say about this trading pair. You can trade forex pairs without considering the chart patterns, candlestick patterns, etc. But the main difference is the analysis. You will not be able to analyze the forex market data properly.
Market rate, market analysis and market sentiments, all these factors are important for a forex market trader. But before you dive into the historical data of a currency pair. You need to look at the current currency rates in forex trading.
Current forex rate of GBP to BGN
The current exchange rate for this currency combination is 2.267241, which means that you can buy 2.267241 Bulgarian Leva with 1 GBP. It also means that you can buy or sell 0.441065 GBP for 1 BGN. This exchange rate is directly affected by many factors.
Some indirect factors also affect forex trading. The trading platforms where you have your forex trading account will help you know these factors. They are very important along with charting in online trading.
Live Trading Price Analysis
The current price has seen many price movements. There have been pullbacks, recoveries and many other ups and downs. The forex news will also affect the online forex rate. To make your Fx trading more profitable in the Fx market. You need to analyze the live trading price. It is the best trading technique to get the best forex rate.
GBP to BGN Currency Rate Analysis
There are many free forex sources that help you analyze the currency rates. If you are not aware of them, you can simply ask your forex broker. But all these sources are not trustworthy. There are risks of market manipulation.
The forex trading strategies developed based on these premade analysis reports will not help you. Therefore, you need the right way to analyze any financial market and its financial instruments. Let's start with the monthly and yearly statistical data for this currency pair.
Analysis of the last month
You can simply check the price fluctuation chart for GBP to BGN or any other currency pair through the Forex account. There are several other ways to do this in automated trading.
Now, the question arises as to why the last month's analysis is required. It is simply because price movements track themselves. Therefore, you need to check the price movement in the last month.
The highest value in the last month was 2.2783. This statistic is not made for the exact last month, but for the last 30 days. Considering the highest value, you can easily create a trading strategy that never fails.
The lowest value is also important for a trading plan you create before entering the currency market. The lowest value in the last 30 days was 2.2560.
The volatility rate can cause a currency rate to fluctuate in many ways. Unusual movements in currency rates are usually caused by this factor. The volatility rate for this currency pair over the last 30 days was 0.26%.
The average price is the value of something in the middle between the highest value and the lowest value. The average value is important and helps you to see the current situation of the financial instrument in the trading markets. The last thirty days have shown an average price of about 2.2718.
Last three months analysis of GBP to BGN
We have understood why the 30-day analysis or the analysis of the last month is important. Now the next important point is to compare it with another set of data.
We have mentioned the 30-day data earlier in this post. Now let's analyze the last three months statistics and compare it with the last month data.
The highest price in the last 3 months was 2.3027 for GBP to BGN. We can see that this highest value is a bit higher than its counterpart in the last 30 days of data. What does it mean? The comparison lets you see the market sentiment, whether it is bullish or bearish.
However, the lowest price in the last three months is lower than the lowest value in the last 30 days. The lowest value for this currency pair is 2.2431 in the last 90 days.
Over the last 90 days, there has been about 0.28% volatility. This is 0.2% higher than the volatility in the last 30 days.
The average price for this currency pair over the last three months has been 2.2693. The average price is almost similar to the 30-day average price. There is not much difference in these average prices, not more than 0.01.
Historical data for GBP to BGN currency charts
Now let's take a look at the historical data for this currency pair. The currency pair chart will show you all the details. Some good sources will give you complete historical data up to the last 10 years in the currency market.
The last year has been a kind of stable period for this currency pair. This pair has not seen too much fluctuation in the market. Stability was seen more than price fluctuation in this currency pair. Let's dive more into the statistics of last year.
The highest value that this currency pair reached was in February. The highest value was 2.35.
In March 2020, the lowest value this currency pair reached was 2.07.
Last 2 years of GBP to BGN
In order to compare the statistics of the last year, we still need to refer to some statistics of the last two years. The last two years have shown that there was not much difference in the price fluctuations.
The highest value in the last 2 years is the same as last year. The highest value in the last 2 years touched last year. It was 2.35 in 2020.
The same thing happened with the lowest value. The lowest value in the last two years was touched by this currency pair in March 2020. The lowest value was 2.07.
Summary - GBP to BGN
Bulgarian Lev as a minor currency can be traded with a major currency like Great British Pound Sterlings. Both currencies have different fundamentals associated with them. The nature and characteristics of GBP to BGN are also different.
Therefore, it seems difficult for beginners to trade such a currency pair. However, with proper analysis of the currency rates, you can trade this currency pair profitably. Otherwise, trading can be difficult for beginners without analyzing the investment instruments properly.
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