That is right, the headline says one currency, not a pair. Most frequently foreign exchange traders target one currency pair, however they miss a lot of other great trading positions on other currency pairs. There is a sweet spot and it’s possible to target a single currency in several pairs. Certain Forex EA developers have decided to do that and created GBPBOT. This EA works on the GBP currency and its pairs. The benefit that it gives won’t be immediatelly obvious. Naturally, traders are used to trade the pairs, not single currencies, so why focus on one now?

The answer can be found in the idea of relationship between different currency pairs. The pairs with the same currency is concerned are related and behave in a similar way. That is to say, if one pair is moving in one direction, others with the same currency might be trending too. However, that won’t be that obvious so we use that correlation. And you can see where it’s helpful for currency trading robot development.It is an additional variable that plays the part in profitability.