Trade GBPUSD

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Thinking of trading GBPUSD?

    1. As any major currency in the forex market, the GBP/USD is full of volatility moments in which an experienced forex trader can successfully trade the markets. 2. Regardless of whether you are an experienced trader or a beginner, whether you rather take intraday or weekly positions, the GBP/USD allows you make the most out of the pair at different times of the day. For instance, day traders should ideally trade between 0600 and 1600 GMT, as trading outside of these hours might not compensate the spread and/or commissions.
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How would you like to trade GBPUSD?

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GBP/USD, also known as Cable originated back in the mid-18th century when the exchange rate began to be transmitted across the Atlantic by a communications cable under water. It is considered one of the major trading pairs across the globe.The pair is affected by several factors that affect the efficacy in the value of the British pound and the mighty U.S. dollar as well. Events such as interest rate decision from both the BoE (Bank of England) and the Federal Reserve, any changes in employment, GDP growth etc will affect the pair ?s value . Some correlations that might make it slightly easier to trade the cable are: negative correlation with the USD/CHF and a positive correlation to the EUR/USD. This is mainly due to the positive correlation of the Euro, Swiss franc, and the British Pound.The GBP/USD has seen better days for the sterling, between 2002 and 2007 it climbed from $1.40 to $2. 10. Among many global events that have decreased the value of the British pound, the leading factor has been the UK's referendum back in the summer of 2016. Brexit pushed the pound to 30-year lows against the USD. The devaluation of the GBP together with the FED's decision to raise US interest rates in 2015 and 2016 favoured the dollar and hence, the GBP/USD tumbled to a current value of $1.2670.

1. The typical fundamental events that affect the pair ?s price are: Key economic data releases such as GDP statistics, retail sales figures and purchasing managers indices; Interest rate movements, decisions from the BoE and the FED have proven to be an influential event (a raise in a country's interest rates tends to make their currency spike up); Inflation trends, high levels of inflation in the United Kingdom could cause the value of its currency to drop; major political events such as Brexit can definitely make a currency tumble. 2. As we have mentioned above, and sadly for the UK, Brexit will be a decisive factor in the currency ?s potential future. Watch out for fundamental events and also political decisions from either of the governing authorities of both the UK and the US.

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