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GBP (British Pound)

The British Pound Sterling is the fourth most popularly traded currency, and the third most commonly held reserve currency. The British Pound Sterling represents the economy of The United Kingdom, which consists of England, Scotland, Wales, and Northern Ireland; and the Pound Sterling is the sixth largest currency in terms of GDP, and the 8th largest in terms of Purchasing Power Parity.

GBP News and Analysis

Weekly Trading Forecast: Will a Rebound in Equities Hobble the Dollar and Li...
A strong rally from US equities matched the intensity of the Dollar's slide this past week. Has the financial market turned a corner for risk and the majors?
BoE Strikes a Cautious Tone on Global Growth Concerns
The British Pound continues to trade with a mean-reversion tendency as prognostications around future rate hikes are becoming even more complex.
The Weekly Volume Report: Volume Still Lackluster
GBP turnover picks up...
S&P 500 Climb and Dollar Slip Find Uneven Support from Central Banks
A strong close for US equities and further slip on the Dollar's part seems to reflect a dovish Fed view.
GBP/USD Trading Around 200 Day Average
GBP/JPY Technical Analysis: Fibonnaci Resistance Offers Short-Side Setup
USD on Weaker Footing versus GBP, JPY, NZD after Positioning Shifts
The retail crowd continues to buy the dip in the US Dollar, which bodes poorly for the greenback's near-term prospects.
British Pound Forecast Remains Bearish Despite Positioning Narrowing
The retail crowd is starting to reduce its net-long GBPUSD position.
GBP/USD Retail FX Remains Net-Long Despite Dovish BoE
The retail FX crowd remains net-long GBP/USD even as the Bank of England (BoE) adopts a more dovish outlook for inflation.
British Pound Drops on Inflation Weakness as Rates Unchanged
The Pound dropped more than 0.3% versus the US Dollar after the BoE signaled Sterling’s appreciation dampening influence

British Pound Trading Forecast

Symbol Forecast Outlook

Forex Economic Calendar

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Date Time Currency Event Importance Actual Forecast Previous Notes
Oct 8
GBP BOE Asset Purchase Target (OCT) 375b 375b 375b
GBP Bank of England Rate Decision (OCT 8) 0.50% 0.50% 0.50%

Due to its role as the world's first industrialized country, and the world's dominant superpower throughout the 18th and early 19th centuries, the British Pound became and retains its status as one of the more globalized currencies available to traders.

The British Pound also retains a unique history in the scope of the global economy. Like many other currencies, its value was pegged to the US Dollar with the Bretton Woods System; at an original rate of 4.03 US Dollars to One British Pound. This rate was maintained throughout the Second World War, and was only abandoned upon persisting economic pressures caused the government to devalue the pound by 30.5% to 2.8 US Dollars to One British Pound on September 19, 1949.

As the Euro zone formation began to solidify, The United Kingdom faced a controversial decision whether or not to adopt the new currency as their own. As a member of the Euro zone, this was an option that they had but chose to turn down. Subsequent referendums were held on the topic of adoption which created the 'five economic tests' as to whether or not adopting the Euro as the currency of The United Kingdom would be in the best interests of the country.

Monetary Policy for the currency is managed by the Bank of England's Monetary Policy Committee (MPC). The committee meets for two and a half days each month to decide on the official interest rate for the country.