Forex Slang

Chunnel

Forex slang for the EUR/GBP currency pair, named after the Channel Tunnel.

Definition

Chunnel is trader slang for the EUR/GBP (Euro/British Pound) cross rate. The nickname references the Channel Tunnel connecting England and France, symbolizing the link between the two currencies.

How It Works

"Buying the Chunnel" = going long EUR/GBP
"Selling the Chunnel" = going short EUR/GBP
Cross rate (no USD) - derived from EUR/USD and GBP/USD
Reflects relative strength of Eurozone vs UK economy

Trading Tips

Less volatile than major pairs

Sensitive to ECB vs Bank of England policy divergence

Brexit news has historically caused large moves

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