I am not a complete rookie but was too embarrassed to ask this question in a pair related thread such as Auslanco, but what I cannot get my head round is:
Traders make a lot of references to GBP/JPY being 'made up of GBP/USD and USD/JPY, i.e GJ = GU x UJ, and yes, when you multiply the 2 prices you get the price of GJ. But what does primarily move a pair like GJ - the 2 majors GU and UJ or people trading GJ directly?
Thanks for any insights!
Traders make a lot of references to GBP/JPY being 'made up of GBP/USD and USD/JPY, i.e GJ = GU x UJ, and yes, when you multiply the 2 prices you get the price of GJ. But what does primarily move a pair like GJ - the 2 majors GU and UJ or people trading GJ directly?
Thanks for any insights!
Consistency and patience is everything