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GBP/USD Guides the EUR/USD … 40% of the Time !
In the world of forex trading, it’s a known fact that the GBP/USD and EUR/USD currency pairs correlate well with each other. As a forex technical analyst, it is my job to collect data and shed light on the currency market. The correlation between the currency pair is significant, but I’m going to test which one of the currency pair gives us the first hint of a major trend change. Let’s forget about correlation for a second here and concentrate on which of the currency pair “makes” the first move. Knowing which one of the currency pair guides the other will make us better traders.