What are cross pairs in forex?
In one line: Cross pairs (or crosses) are currency pairs that don't include the US dollar, such as EUR/GBP, EUR/JPY or AUD/NZD.
A simple example
EUR/GBP at 0.8700 means 1 euro costs 0.87 British pounds. There's no dollar anywhere in the quote. That's what makes it a cross.
Crosses with the yen are so common they get their own nickname: "yen crosses," like EUR/JPY, GBP/JPY and AUD/JPY. Crosses with the euro are "euro crosses."
How a cross pair is priced
Behind the scenes, many crosses are worked out through the dollar. If EUR/USD is 1.1050 and GBP/USD is 1.2700, then EUR/GBP is about 1.1050 ÷ 1.2700 = 0.8701.
That's why a big US news day can still nudge a cross, even though the dollar isn't in its name.
What a pip is worth
On EUR/GBP, the quote currency is the pound. One Pip on a standard Lot is 100,000 × 0.0001 = £10. To get dollars, multiply by GBP/USD: £10 × 1.27 = about $12.70 a pip.
So the same pip count is worth a different dollar amount than on EUR/USD. The pip value calculator does this for you.
Why it matters
- Cleaner stories. EUR/GBP is mostly about Europe versus the UK. It can show a theme you'd miss on the dollar pairs.
- Different moods. Some crosses, like EUR/GBP, often move in slow ranges. Others, like GBP/JPY, can swing hard.
- Different costs. Spreads are often a bit wider than on Major pairs, and wider again in quiet hours.
A common mistake
Sizing a cross like EUR/USD. A 30-pip stop on GBP/JPY is not worth the same dollars as 30 pips on EUR/USD, and a typical day's move on GBP/JPY can be much bigger too. Set the stop from the chart first, then let the position size calculator set the size.
Questions
Why are they called cross pairs?
They "cross" two currencies directly instead of going through the US dollar, which sits in most forex trades.
Are cross pairs riskier than majors?
Not by definition. Some move calmly and some swing a lot. Spreads are often wider, so the cost per trade can be higher. Size from your stop either way.
What is the most traded cross pair?
EUR/JPY and EUR/GBP are among the most traded crosses. Volume on any cross is still well below EUR/USD.
Want the next step? We'll walk you through it.
Four free lessons by email, one every few days — each with a 10-minute exercise on a real chart.
Send Me the Free Lessons 4 short emails · No spam · Unsubscribe anytimeOr see the whole method, step by step:
See What’s Inside the Course Try everything free first. Decide when you're ready. · Open the free chart tool (works in the TradingView phone app)One chart idea a day, in plain English. Follow along: