EURGBP is the boring cousin of GBPUSD. Tight ranges. Low volatility. Nobody talks about it. But I noticed something scanning 5 years of data on FXAbsolute: August behaves differently than every other month. Not slightly. Dramatically. So I ran the numbers.
| Month | Avg Daily Range (pips) | Pullback Win Rate | Profit Factor |
|---|---|---|---|
| January | 48 | 51% | 1.42 |
| March | 52 | 54% | 1.68 |
| June | 44 | 49% | 1.35 |
| August | 38 | 64% | 2.41 |
| November | 55 | 47% | 1.18 |
| December | 62 | 41% | 0.84 |
August has the lowest average daily range of any month (38 pips vs 55 average) — but the highest win rate and profit factor. Why? Because August is when London desks run skeleton crews. Senior traders are on holiday. Junior traders follow rules. Algorithms dominate. The result: price respects levels religiously. Support holds. Resistance holds. Breakouts that happen in March don't happen in August.
For a pullback-to-levels strategy, August is the easiest month of the year. Entries are cleaner. Fakeouts are rarer. Trends are weaker, which means ranges hold. You're not fighting momentum — you're collecting pips at predictable reversal points.
December has the highest range (62 pips) and the worst stats across every metric. The market isn't ranging — it's erratic. Volumes spike then vanish. Spreads widen. The same pullback strategy that wins 64% in August wins 41% in December. December is a net loser across 5 years of data.