Connect with us
EUR GBP exchange rate

What is the mid-market rate of EUR (Euro) / GBP (British Pound Sterling) on Tuesday July 21, 2020

Share on facebook
Share on twitter
Share on linkedin

Get the current mid-market rate for EUR (Euro) / GBP (British Pound Sterling) for Tuesday July 21, 2020 right here.

The latest rates for EUR (Euro) / GBP (British Pound Sterling) are available below. As a leading finance news site the team at Born2Invest collates and analyses the latest forex market data to bring you live information to help you make the best forex trading decisions every day.

Tuesday July 21, 2020 1 EUR (Euro) is 0.900549 of GBP (British Pound Sterling) .

Remember to always trade using a reputable broker. It’s also possible to apply many forex concepts to cryptocurrency trading.

Forex pairs explained

Considering making a trade? Forex is one of the most volatile markets in the world and there are hundreds of currency combinations to choose from. Understanding how the market works is key and we’re here to help you.

Currencies are always traded in pairs. When you buy or sell one currency you automatically buy or sell another. In every currency pair there is a base currency, in this case EUR (Euro) and a quote currency GBP (British Pound Sterling).

The price displayed for a currency pair represents the amount of quote currency, or GBP (British Pound Sterling) you will need to spend to purchase one unit of the base currency EUR (Euro) In this example that means you need to spend 0.900549 of GBP (British Pound Sterling) in order to purchase 1 EUR (Euro).

The three types of forex pairs

Forex pairs can be grouped into three main categories; the majors, the commodity currencies, and the cross currencies:

  • Major currencies are the most commonly traded currencies on the market. Different publications will use different criteria but pretty much every list will include EUR/USD, USD/JPY, GBP/USD, and USD/CHF
  • ll Commodity currencies are currency pairs that are closely linked to commodities such as oil, iron ore, and coal. Common examples include AUD/USD and USD/CAD
  • Cross currencies include all currency pairs that don’t include USD. Examples include EUR/GBP and EUR/JPY.

Is cryptocurrency trading the same as forex trading?

While cryptocurrency trading shares many similarities to forex trading there are some key differences. Yes both markets are volatile and have the idea of “pairs” but cryptocurrencies are broadly unregulated and fall into a larger number of categories. The crypto market is complicated and very difficult for a novice investor to navigate.

To make matters more confusing most cryptocurrency trades take place on exchanges. These are typically unregulated and come with a higher degree of risk than using a broker. Many traders opt to use a CFD broker with crypto pairings.