Introduction The GBP/USD Pair
The GBP/USD (British Pound/ US dollar) is the relation of the British Pound against the US dollar.
Forex Knowledge: Trading the British Pound/US Dollar
- Typical broker spread: 1.2-5 pips
- Official name of the GBP: pound sterling
- Common used nicknames: Cable
- Most active trading sessions: London and US session
- Most active trading hours: 7:00 GMT – 16:30 GMT
- Average daily range (high-low): 147 pips
- Trading strategies to trade GBP/USD: Click here
- Recommended level of trading experience: Beginner
- Value of one pip GBP/USD: $10 (standard), $1 (mini) and $0.1 (mirco)
Economic Events That Move The British Pound/US Dollar
A. United Kingdom
- Current Account
- Trade Balance
- Non EU Trade Balance
- Visible Trade Balance
- Gross Domestic Product (GDP)
- NIESR GDP Estimate
- Consumer Price Index (CPI)
- BOE Rate Decision
- Bank of England Meeting Minutes
B. United States
- Employment – (Non-Farm Payrolls and Unemployment Rate)
- FOMC Rate Decision
- Trade Balance
- Current Account Balance
- Net Foreign Security Purchases (TIC)
- Gross Domestic Product (GDP)
- Consumer Confidence
- ISM Manufacturing
- Philadelphia Fed Survey
- Durable Goods Orders
- University of Michigan Consumer Sentiment Index
- Consumer Price Index
- Producer Price Index (PPI)
- Advance Retail Sales
- Fed President Speaks
