GBP/PLN is not a popular currency pair on Forex. GBPPLN is the cross rate against the US dollar. Although the US dollar obviously is not present in this currency pair, it still has a significant influence on it. This can be seen, if you combine two charts: GBP/USD USD/PLN. By combining these two charts in the same price chart, you can get an approximate GBP/PLN chart.
The US dollar has a significant impact on both currencies. For this reason it is necessary to take into account the major US economic indicators in order to predict correctly a future course of this financial instrument. These indicators are as follows: the discount rate, GDP, unemployment rate, Non-Farm Payrolls, etc. It is necessary to note that discussed currencies could respond with different speed to changes in the US economy. Therefore, the GBP/PLN currency pair may be a specific indicator of these currencies fluctuations.
Poland does not use the euro, however, under the terms of their Treaty of Accession with the EU the country is obliged to replace its national currency, the Zloty, with the euro sooner or later. At the same time, many internal problems that exist in this country (the budget deficit, high external debt, etc.) as well as the global economic crisis prevented this country from introduction of the single currency. The Polish government intends to comply with the criteria in the medium term.
Poland is a developed industrial country with high living standards. The main economic sectors are engineering, metallurgy, and chemical and coal industries. Poland has well developed automotive and shipbuilding industries. Poland is rich in mineral resources: coal, copper, lead, natural gas, etc. Due to the large number of hydrocarbons, the Polish economy is able to satisfy almost all its electricity demand. Factors that may have a significant impact on the Zloty is the international rating of the state, as well as the state's leading industries of Poland and the European Union.
If you trade cross rates, it is necessary to remember that brokers usually set a higher spread than on more popular currency pairs, so before you start working with the cross rates, one should thoroughly learn the terms and conditions offered by the broker to trade with specified trading instrument.