The GBPUSD pair, also known as the “Cable,” comprises of the Pound Sterling and the US Dollar. It is one of the oldest and most liquid currency pairs in the world. The pair is traded 24/5, although the trade volumes are highest during the London session from 6:00 GMT to 16:00 GMT, further sustained by the New York session starting at 12:00 GMT.
In the GBP USD pair, the Pound Sterling (GBP) is the base currency, while the US Dollar (USD) is the quote currency. This is a measure of the amount of USD need to buy 1 GBP. So, if the GBP/USD is trading at 1.2474, it means that it will take $1.2474 to buy £1.
The GBP, which used to be the world’s dominant currency, still remains a highly important currency from an economic standpoint. It is the fourth most traded currency and third most widely held reserve currency globally.
There are several important macroeconomic factors that affect the GBP USD rate:
For Britain:
Check out the Calendario economico to stay abreast of news and events.
For the US:
Durable goods orders
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