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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

EUR/USD Pivots at Last Week’s Low - Surprise PMIs End EZ Data Drought
Has Euro-Zone economic weakness bottomed out in the near-term? If so, the Euro may find a lift.
GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen
GBP/USD Bearish Candlestick Pattern Warns Of Further Weakness
GBP/USD’s retreat has continued after a Dark Cloud Cover pattern suggested the bears were mounting a return.
Dollar Advances Across the Board as Sentiment Breaks, CPI Steady
A fever of risk appetite in the equities market broke this past session and September inflation statistics for the US printed a steady – if below target – pace. How di...
EUR/GBP Technical Analysis: July Bottom in the Spotlight
Trading Video: S&P 500 Rally Cools and EURUSD Offers a Dollar Break
Just when the US equity market was hitting its stride, bullish conviction has stumbled.
Strategy Video: Assessing Breakout Opportunities for the Majors
There is little reassurance amongst traders with the moderation in activity for the markets recently.
GBP/USD Technical Analysis: Eyeing Support Below 1.60
USDOLLAR at Key Resistance - Reaction to Provoke EUR/USD, AUD/USD
The USDOLLAR Index continues to edge higher from its mid-October lows, but hasn't yet cleared a necessary level to reengage USD longs elsewhere.
GBP/USD Plunged As BoE Voted 7-2 And Raised Concerns For Global Outlook
BoE Minutes revealed the MPC members voted 7-2 to leave the Bank Rate unchanged. GBP/USD plunged to a session low below 1.6100 level.

British Pound Trading Forecast

Symbol Forecast Outlook

Forex Economic Calendar

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GMT0 11:44    

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Date Time Currency Event Importance Actual Forecast Previous Notes
Wed
Oct 22
08:30
GBP Bank of England Minutes
Fri
Oct 24
08:30
GBP Gross Domestic Product (YoY) (3Q A) 3.0% 3.2%

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.