EUR/GBP: Live Rate, Pip Value and the Range-Bound Cross
Two neighbouring economies, one relatively small daily range, and a spread that is a bigger share of it. EUR/GBP is the clearest case where trading costs, not entries, decide the outcome.
EUR/GBP is the euro priced in sterling, a cross with no dollar leg and one of the smallest daily ranges among the actively traded pairs. A pip is 0.0001, worth 10 pounds per standard lot. Because the range is narrow, the spread is a larger share of each trade, which makes cost control the deciding factor.
EUR/GBP right now
One pip = 0.0001 of price. A standard lot is 100,000 euros, so pip value = pip size × contract size × lots, converted from GBP at the live rate. Figures assume a USD account; confirm the contract size with your broker.
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Open EURGBP on the live desk (H1) → See what the desk does →A narrow range, and what it implies
The UK and euro-area economies are closely linked and their central banks rarely diverge violently, so EUR/GBP typically travels less in a day than cable or EUR/USD. That has a direct consequence: if your stop is 25 pips instead of 60, a 1.5-pip spread is a much larger share of your risk. Run the numbers in the spread cost calculator before deciding this pair suits a short-stop approach.
What moves it
- The relative policy path of the Bank of England and the ECB - it is a spread trade between two central banks.
- UK data, which tends to move it more than euro-area data does.
- Politics and trade friction between the two blocs.
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Play free, no signup →Session behaviour
Almost all of the action is in the London session, because both currencies are European. New York adds little, and the Asian session is largely dead - ranges set overnight are thin and break easily.
The pip detail
The quote currency is sterling, so a pip is 10 pounds per standard lot and converts to your account currency at the live rate. The tool above handles the conversion.
How far EUR/GBP actually moves
Measured on the OANDA feed our charting desk runs on, 2026-01-11 to 2026-09-17 (180 completed daily bars). Recalculated every week.
| Average daily range | 28.3 pips |
|---|---|
| Median day | 24.6 pips |
| Widest day in the window | 82.4 pips |
| Quietest day | 10.4 pips |
| Average as % of price | 0.328% |
| Widest weekday | Monday (30.6 pips) |
| Busiest hour | 14:00 UTC, about 8.4 pips in that hour (quietest 23:00, 2.0) |
The median is the middle day and the average is pulled up by a handful of violent ones, so size a stop against the median and expect the average to flatter you. Full table for every instrument, with the method, on average daily range by pair.
Frequently asked questions
What is a pip worth in EUR/GBP?
10 pounds per standard lot, converted to your account currency at the current rate.
Why does EUR/GBP move so little?
The two economies and their policy paths are closely linked, so the cross behaves like a spread between two central banks rather than a directional bet.
Is EUR/GBP good for scalping?
Its narrow range means the spread is a large share of a small stop, so costs matter more here than on the majors. Check the numbers before assuming it works.
When is EUR/GBP most active?
The London session. Both legs are European, so New York and Asia add little.
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