GBP/RUB Trading forecasts and signals - page 9

British Pound/The Russian Ruble (GBP/RUB) is a very rare ultra–volatile Forex cross-pair.The tool is really very rare and it is quite difficult to find any useful information on it, except for online charts, and even a broker who provides an opportunity to trade them.These forecasts do not cancel out independent analysis, and to make forecasts for GBP/RUB, you need to take into account many internal and external factors affecting the economies of the UK and Russia. It makes no sense to make forecasts on news or fundamental analysis for short–term timeframes less than 1H - this is the domain of scalpers, who, despite decent spreads, still have excellent chances to earn due to high volatility, but on long-term charts, the behavior of the pair fits perfectly into the framework of fundamental and technical analysis and can be used by positional traders to extract huge profits.Until 1992, such a currency pair did not exist in principle, because in the USSR, firstly, the exchange rate was strictly regulated by the state, and secondly, currency speculation was prohibited by law. Active bidding began only after the opening of the Moscow exchange.General characteristicsGBP/RUB is one of the exotic currency pairs, and the absence of the US dollar tells us that this is a cross–rate. Nevertheless, the conversion to both sides still takes place with the participation of USD.The quote shows how many Russian rubles you need to pay for the purchase of one pound sterling.The values of the pair's exchange rate are displayed differently on different charts: on the Internet you can find three-digit (71.799), standard four-digit (71.6199) and even five-digit quotes (71.61991), as well as less accurate (abbreviated) two-digit (71.61).The Pound – Ruble is a very exotic pair on the Forex market, it is most actively traded only during the operation of the Moscow Exchange, that is, from 10:00 to 19:00 Moscow time.A lot of volatility is observed at the opening of the exchange. According to the results of a 20-week analysis, Wednesday is the most active trading day for today, but Thursday is practically not far behind it. According to the same data, Monday turns out to be the calmest.Read more: GBP/USD exchange rate (Online Chart), forecast for todayWhat does the GBP RUB rate depend on and the factors influencing the quotesDespite the developed science, medicine, nuclear and space industries that remained from the USSR, the share of services and high–tech production in Russia is much less than in developed countries, and the economy as a whole is raw materials and strongly depends on the export of hydrocarbons, metals, timber, etc.When analyzing the Russian economy by sector , the following picture appears:The leading place is occupied by the services sector and trade – about 58.6%;The share of the extractive and manufacturing industries accounts for approximately 37.5% of GDP (food, metallurgical, chemical, military-industrial complex, mining, etc.);Agriculture contributes 3.9% of GDP.Russia is not only a very large, but also an ancient state, with an original, unique history and culture, which attracts a lot of international tourists to the country. The leaders in the number of tourists, of course, are St. Petersburg and Moscow, but also a huge number of them come to other cities: Sochi, Kaliningrad, Khabarovsk, Vladivostok. International trade is also of considerable importance for Russia, and the main import/export partners are: EU, China, USA, CIS countries, Turkey.Despite the fact that the UK has long lost its world leadership, the state is still rightfully among the major powers with the greatest political, cultural and financial influence. A developed service sector (primarily banking, brokerage, insurance, law and consulting) and a powerful industry bring huge revenues to the country and still allow it to have a significant impact on global processes.Oil prices have a huge impact, mainly on the Russian currency, but also on the pound, since the UK is also associated with oil production on the North Sea shelf.The impact on the pair of gold prices and the US dollar exchange rate is significant. Of the other significant factors, it is worth mentioning:GDP of both countries, as well as the US and the eurozone;Trade balances (of both countries);Levels of: inflation, business activity, consumer loans, unemployment;Prices for diamonds, ferrous metals, timber and other raw materials.The most important role in setting the course of this pair is played by international political events (primarily those in which Russia participates).Read more: GBP/CHF: online signals, forecasts for today, analysis & featuresThere is practically no information on the correlation of this particular pair on the Internet anywhere, however, based on the analysis of charts, it can be seen that most of all GBP/RUB correlates with the Euro / Ruble and Dollar / Ruble, there is also a significant connection with oil.Features of the currency pairThe pair passes hundreds of points a day, which, of course, attracts risky scalpers looking for quick enrichment, but do not forget about the proportionally high risk if the price goes against the trader. It can also be called quite fair in relation to long-term trading. In order to prevent this, it is always necessary to remember about risk management, and before entering the market, carefully study the asset and read only relevant ...