With the advent of a massive interest in the Forex industry, the system has started to expand and it is spreading at a very fast rate. Just in the past couple of years, a large number of brokers have entered the scenario and have made trading accessible to almost, everyone.
A pip is one of the most important concepts of Forex. Despite that, it is a concept that is misunderstood by most of the traders and they do not know how to calculate it.
Conventionally, there are several ways of trading the news[MI1] , in a volatile market like that of Forex. These ways include breakouts, news fades and market dips. Regardless of your trading strategy, it is always important to keep an eye on profit and loss fluctuations in order to minimize the risk.
GBP has dropped more than 8% against USD in the aftermath of Brexit vote. This is a serious concern and one should be alarmed if they trade US dollars.
EU leaders have already met to ponder over the way forward after Britons surprised the world by voting to leave the EU. Ex-PM David Cameroon urged the EU to give Britain more control over immigration. Cameroon had promised the EU leaders in the run-up to the referendum that he would deliver the win.