In the forex market, the symbol GBP/BGN represents the currency pair trading the British Pound Sterling against the Bulgarian lev. The GBP is the oldest currency still in use and is one of the most popularly traded currencies in the forex market, included among the four majors. On the other hand, the BGN is not traded as often globally and, as a result, this currency pair has thin trading volume.The GBP is considered among the eight officially recognized reserve currencies by the IMF, although it was overthrown as the leading reserve currency by the US dollar. It experiences considerable volatility and offers forex traders ample opportunities for trading and generating profits. Meanwhile, the BGN has been pegged against several currencies throughout its lifetime, including the French Franc, the German Mark, the US dollar and now, finally the Euro. Bulgaria is expected to switch from using the lev and adopt the Euro, although there has been no official confirmation yet on the timeline for this transition.The Bulgarian economy is dependent on its industries and is considered a stable, upper middle class one with stable levels of inflation. The economy can be considered a trade-reliant one as the country is known for its exports of commodities like steel and iron, in addition to clothing as well as machinery. Hence, any fluctuations in the price of steel and iron can drive movement in the value of the BGN and in the exchange rate of GBP/BGN, as a result.