The GBPUSD is a major currency pair and is one of the most widely traded pairs in the foreign exchange market. It represents the exchange rate between the British pound and the US dollar. The currency pair is quoted as the amount of US dollars required to purchase one British pound. The conversion works by multiplying the amount of pounds by the current exchange rate to get the equivalent amount in US dollars or vice versa. For example, if the current exchange rate is 1.4, then 1 British pound would be equivalent to 1.4 US dollars.
The pair has a long history dating back to the post-World War II era, and has experienced significant volatility over the years due to various economic and political events such as the Brexit vote and changes in monetary policy.
The GBPUSD pair has a long and complex price history, influenced by a range of economic and political factors. Following World War II, the GBPUSD was fixed at a rate of $4.03, but in 1971 the dollar was devalued and the pound became a floating currency. The 1980s saw a surge in the value of the pound, reaching a high of $2.44 in 1980, but it soon fell back to more sustainable levels.
The 1990s were marked by volatility, including a dramatic crash in 1992 when the pound was forced to withdraw from the European Exchange Rate Mechanism. In more recent times, the pound has faced uncertainty due to Brexit and the COVID-19 pandemic, causing fluctuations in the GBPUSD exchange rate. Overall, the GBPUSD has seen both highs and lows, making it an interesting currency pair for traders to watch.
The GBP/USD currency pair is one of the most widely traded pairs in the forex market due to the significant economic and political ties between the UK and the US. This makes it a popular choice for traders looking for volatility and potential profit opportunities. It is also known for being sensitive to global economic events and news, such as interest rate changes, geopolitical events, and economic data releases.
Other currency pairs that traders may consider include EUR/USD, USD/JPY, and AUD/USD, among others. These pairs are also highly liquid and offer plenty of opportunities for traders to profit from price movements. Ultimately, the choice of which currency pairs to trade will depend on a trader's individual trading strategy, risk tolerance, and market outlook.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.