Turkish Lira To GBP Exchange Rate
Turkish Lira is one of the smaller currencies that exist in the world. The foreign exchange market is full of opportunities. But there are also risks due to market volatility and liquidity. This is all due to the combination of a minor currency and a major currency.
A currency pair with both types of currencies will be profitable. Here we will tell you more about the exchange rate of Turkish Lira to GBP.
We will let you know the live exchange rate of Turkish Lira and British Pound Sterling. Undoubtedly, the British pound is more valuable than the currency Turkish Lira. But do you think the current exchange rate is enough for a forex trader to know?
Well, there are a lot of other things that you need to know as a forex trader. That's why we are here to help you get all the accurate information about Turkish Lira to GBP currency rates.
How to develop Lira to GBP strategy
Currency rates fluctuate for many reasons. From fundamentals of financial instruments to technical factors, all are important. A financial instrument can be analyzed with fundamental analysis or technical analysis.
To develop a successful forex trading strategy, you need the right analysis and its result. This post will help you to get all the information related to this forex pair. So let's get to the point to understand it better.
Turkish Lira to GBP: Current Exchange exchange rate
The current exchange rate for this pair will help traders to know the exact value of the currency pair. Forex trading will not become easy with the current exchange rate.
Forex traders need to know more about price forecasting and price prediction. But it all starts with the current forex rate. Forex brokers out there let you know the current forex rate on a trading platform.
Today Live Exchange Rate for Lira/GBP
Forex trading is heavily influenced by market volatility and liquidity. The current exchange rate tells you a lot about the currency. Price analysis should start with the current exchange rate. You can check the main and best trading platforms for the currency rate in live trading. The current rate is 12.161623 Turkish Lira for one pound.
Live exchange rate analysis
If you take a look at the 24-hour forex chart for this currency pair, you will notice that this currency pair is more stable than others. Someone trading this currency pair will bring stability to his/her trading account.
However, it is worth knowing the price movement or market sentiment for this currency in the long run.
Exchange Rate Analysis for Lira/GBP
Charting patterns or candlestick patterns will help forex traders a lot in the forex market. Whether you are trading commodities, currency pairs or even stocks. You need to analyze the financial instruments and their price. In forex trading, it becomes crucial to do this. So here is the price analysis for Lira/GBP in the forex market.
Last month, the average price of this forex trading pair was one point or one lira below the current price. Volatility, which is a crucial factor in the forex market, was about very high for this trading instrument. The money traders faced some problems while trading this investment instrument.
The highest price of this currency pair in the last month was around 12. The exact price was 12.144 as the highest value. This value is slightly lower than the currency rates.
If we talk about the lowest rate or value touched by this online currency pair, it was 11.439 last month.
The average value in online trading is something like an average between the highest and the lowest value. It helps traders get information about the stability price.
It shows what the average rate was that the current price has turned around. The average price for this currency pair last month was 11.770.
Normally all currencies are volatile, but most of them have a volatility of 0.3% to 0.4% in the money trading market. But here the story with the Lira/GBP is different. Because the volatility rate was 0.53% last month. This high volatility rate caused so many quick pullbacks.
The last three months
When we analyze the forex charts for a currency, it is important to include the historical data for the last three months or 90 days. Why do you think this historical data is important for analysis? Well, it will help you to analyze the forex rates properly before buying or selling that currency pair.
The highest rate in the last three months for this currency pair was 12.144. Now, you can see that this currency rate is as high as the highest value in the last 30 days. This means that the highest value in the last 30 days has been touched.
Lowest exchange rate
On the other hand, the lowest rate for this currency pair in the last three months was 9.9852. But in the last month, it was around 11. This means that there was a little upward movement or bullish sentiment for this currency.
The average price of a trading instrument can be helpful in helping you understand how currencies are rising or falling in the live account. For beginners, this value brings many benefits in understanding a candlestick or chart pattern.
The average price of currencies in the last 90 days was 11.224, which is quite close to the average price of the 30-day statistics.
Volatility was high again in the last 90-day period. High volatility is not just a bad thing in forex trading. It can also give you the best forex investment returns.
Over the last three months, there has been about 1.22% volatility. That's almost more than twice the volatility rate of last month.
Information on the exchange rate over the last year
The exchange rate of this currency has increased a lot in the last year. If we see the currency rate in the first months of last year, it was about 7.
There were about 7 Turkish Lira in one GBP. But now that currency has gone up to 12 lira to a GBP. So you can see that there is a big difference in just one year.
Exchange rates for the last 5 years
You might be surprised if you take a look at the exchange rate information for the last year. But you will get a shock when you see the last 5-year exchange rate for this currency. This currency was valued at about 3 Turkish Lira in a pound five years ago.
Summary - Lira To GBP
We cannot say that the Turkish Lira is just an insignificant currency in the forex trading market. However, the GBP is one of the major currencies. Trading Lira to GBP can be beneficial for forex traders.
The only thing that Fx traders need to overlook is the exchange rate, the exchange rate history and its analysis. Undoubtedly, trading software can help you do this easily. But analyzing on your own will make you understand better.
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