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country currency pairs gbpsgd

Great Britain Pound vs Singapore Dollar

Great Britain Pound vs Singapore Dollar (GBPSGD)

The GBPSGD currency pair represents the exchange rate between the British Pound and the Singapore Dollar. It’s a forex pair that provides insights into the relative strengths of the UK and Singapore economies.

sgd Flag gbp Flag sgd Flag gbp Flag sgd Flag gbp Flag

Great Britain Pound vs Singapore Dollar

GBPSGD
-.-- sgd
Buy
--.--
Sell
--.--
-.-
Previous Close
1.72299
Open Today
1.72924
Daily low
1.72299
Daily high
1.73152
Annual change
-.--%
All time Low / High
1.48381 / 2.23073

GBPSGD Contract Specifications

  • Minimum Spreads, points:
    0
  • Tick size:
    0.00001
  • Contract Size per Lot:
    100000
  • Trading Platform:
    MetaTrader 4
  • Swap Type:
    in points
  • Minimum Volume:
    0.01
  • Swap Long:
    1.6
  • Maximum Volume:
    0
  • Swap Short:
    -17.69
  • Pip Value:
    10 SGD
  • Margin Group:
    FOREX
  • Profit Group:
    FOREX
  • Hedged Margin:
    1
  • Margin Currency:
    GBP
  • Days Swap:
    Wednesday
  • Execution:
    MARKET
  • Margin Percentage:
    100%
  • Trading Schedule EET:
    CHECK

History of GBPSGD

The history of the GBPSGD currency pair reflects the economic and financial interactions between the United Kingdom and Singapore. Over time, this pair has witnessed fluctuations influenced by various factors, including changes in economic policies, interest rates, geopolitical events, and global market sentiment. Both the UK and Singapore are significant players in the global economy, each with unique strengths and challenges, contributing to the dynamics of the GBPSGD exchange rate. Traders and investors closely monitor this pair for insights into the relative strength of the British Pound and the Singapore Dollar, making it a notable component of the forex market, particularly for those seeking opportunities related to these two economies.

currency pair gbpsgd

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Frequently Asked Questions

GBPSGD is a forex currency pair that represents the exchange rate between the British Pound GBP and the Singapore Dollar SGD. In this pair, GBP is the base currency, and SGD is the quote currency. It tells you how much one British Pound is worth in Singapore Dollars. Traders and investors use GBPSGD to assess the relative strength of these two currencies and make informed decisions in the forex market based on economic, political, and global market factors impacting the United Kingdom and Singapore. While it may not be as heavily traded as major currency pairs, GBPSGD remains significant for those interested in the dynamics of these two economies and their influence on currency movements.

To trade the GBPSGD currency pair, you will need to open a trading account with the broker, complete any required identity verification and fund your account with the amount you’re comfortable trading. Utilize the broker’s trading platform to analyze the GBPSGD pair using technical and fundamental analysis techniques, which involve studying price charts, economic indicators, news releases, and geopolitical events impacting both the UK and Singapore. Based on your analysis, execute buy (long) or sell (short) orders through the trading platform, implementing risk management strategies like setting stop-loss and take-profit levels. Continuously monitor your positions and stay informed about factors influencing GBPSGD to make informed trading decisions.

The trading hours for GBPSGD can be found here

Popular trading strategies for the GBPSGD pair include trend following, range trading, breakout trading, and carry trade strategies. Trend-following strategies involve trading in the direction of the prevailing trend, using technical indicators to identify entry and exit points. Range trading aims to profit from price oscillations within a defined range, buying near support levels and selling near resistance levels. Breakout trading seeks to capitalize on price movements when the exchange rate breaks significant support or resistance levels. Carry trade strategies involve borrowing in a currency with a low-interest rate (like the Singapore Dollar) and investing in a currency with a higher interest rate (like the British Pound), earning profits from the interest rate differential. Traders choose strategies based on their trading style and risk tolerance.

When trading the GBPSGD pair, consider various factors that can impact its price movements. First, analyze economic indicators and events from both the United Kingdom and Singapore, including GDP, employment data, inflation rates, and central bank policies. Pay attention to geopolitical developments and trade relations, as these can affect market sentiment. Given that GBPSGD may not be as heavily traded as major currency pairs, be mindful of liquidity and spreads, which can vary. Effective risk management is essential, so use stop-loss and take-profit orders to protect your capital. Finally, keep an eye on broader market sentiment and global economic trends, as they can also influence the pair’s movements. Staying informed and conducting thorough analysis is crucial for successful trading in GBPSGD.