Hi Guys!
In the currency pair GBPUSD when one buys currency do you refer to GBP? Similarly re selling the currency. Can someone explain please.
gaminig:)
When you trade curruency pairs you are always taking your positions relative to the first currency listed. That’s the “base” currency. So, in GBP/USD the base currency is “GBP”. When you buy, you are long GBP. When you sell, you are shorting “GBP”.