XOsignals GBP to PKR Exchange Overview
One currency from an Asian country and the other from Britain. Have you ever seen this combination before? We are talking about the GBP to PKR currency pair. The history of GBP to Pakistan Rupee exchange rate is important to know for a forex trader. As a forex trader, there are a lot of things you need to know about exchange rates.
From the current exchange rate to the exchange rate history, everything is important. But the most important thing is the technical or fundamental analysis of a currency pair.
You need to do technical analysis or fundamental analysis to know more about financial instruments like currency pairs. Money trading can be profitable with proper analysis and accurate trading strategies. Your trading strategy must include accurate trading actions.
Let’s dive into GBP to PKR exchange
Here we will give you an overview of GBP/PKR currency exchange. Here we will let you know how the currency rate for this currency pair has changed over the past few years. From months to quarters and from quarters to years, you will get all the information.
This information is provided to help a beginner trader. As a beginner trader on a trading platform, you will get analysis along with this information. So this post will be very useful for the currency traders out there.
GBP to PKR - Currency rates this year
When you get into the forex market, you will find that rate history is very important in the forex market. It is important to know the rates in the forex market and their history is also important.
You will analyze the price history in the forex markets to find the best trading strategy. Developing trading strategies will be easy for you with the right trading analysis. Let's start with the current exchange rate of this year for the British pound sterling and Pakistani Rupee.
The first few months
The foreign exchange trading markets are volatile. Market volatility and liquidity affect your trading account when you trade forex. The opening month of this year has an open rate of GBP/PKR as the current exchange rate. There was no major money exchange rate.
Forex trading can be affected by many factors and the same happened with GBP to PKR. The currency rate saw a slight upward movement in the month of February, reaching 225, but after that, in March, it had a downward movement. Now, after the month of April, this currency returns to the high currency rate.
The first quarter was not so stable for this financial instrument and financial market. The currency pair moved slightly upwards from January to February. After that, the month of March passed with a few pullbacks.
The currency was back to its opening price. This price fluctuation affected many forex trading strategies.
Due to the downward market sentiment for this forex pair, the month of April started with 210. Trading currencies becomes profitable when you have growing currency pairs in your trading portfolio.
The second quarter is not over yet. Nevertheless, an upward price movement can be observed in the second quarter. The currency rate has risen from 210 to 219 in just two months.
GBP to PKR - Currency rate over the past year
This year does not look like a stable year for this currency pair if we take a look at the charting. Currency trading is never expected to be stable. But let's take a look at the currency rates for this currency pair over the last year. Trading platforms are there to provide you with the forex charts for these currency pairs.
The first quarter of 2020 was full of price fluctuations for GBP to PKR. The currency pair opened the market for the new year at 205 and dropped back to 202 in the same week.
By the middle of March, it reached 182 as the lowest currency price of the quarter. But in recent weeks, the currency gradually began to rise again.
In the last quarter, the currency rate was 214 and by the end of the last quarter and the last month of the year, the rate was 218. So the year ended with a growth in this currency rate.
Starting at 205, this currency pair moved to the 210 in the first half of the year. The first six months have shown different fluctuations of the currency pair. At the end of the month of June, the rate increased to 210.
The second half of the year started again with the 210 as the currency rate. But the foreign exchange rates for both currencies have changed till the end of the year.
The end of the year showed us a forex rate of around 218. So this half of 2020 was also full of forex rate fluctuations. There was no stability in the financial market.
GBP to PKR - exchange rate over the last 5 year
The last five years have not been the same for GBP to PKR and its market rates. The market rate has shown different market trends every year. The first year was different from the other years. Let's take a look at what changes the currency rate has experienced over the five years.
The first 2 years
The first year that was 2016 for this currency was not so good. This year has shown a complete regression for this currency. The currency opened with a rate of 154.
And at the end of the year, the currency rate dropped to 129. But the second year has shown a little growth. The currency rate rose from 128 to 149 the next year.
The last 2 years
The last two years have shown a lot of growth. The currency started the year 2019 at 176 and grew to 216 in these two years. It was not good for the Pakistani Rupee, but it was good for the GBP investors. GBP has still strengthened compared to Pakistani Rupee.
PKR is not showing any positive reaction in the forex trading system. Whether PKR is a foreign currency or a local currency, the advantage is in the hand of GBP investor.
The middle year
The middle year also played a significant role in the performance of this currency pair. The opening rate of the currency for 2018 was 149, which rose to 176 at the end of the year.
This is a huge return. With such growth, the next two years also showed a huge positive response and this currency moved up.
Summary - GBP to PKR Exchange Overview
Forex trading for beginners is not that easy. Have you ever heard this statement about the Fx market? Well, there is a popular saying like this. But you can learn how to trade with different trading analysis.
Everything here in online trading works with analysis. Without analyzing the fundamentals and technical factors, you cannot go ahead to make money. Therefore, it is recommended that you choose a trading approach that involves analysis. This is because analysis will be the backbone of the money exchange market.
A trader can easily learn trading with the help of mobile trading apps, demo trading, online forex trading tutorials etc.
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