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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

GBP/USD Awaiting Clearer Guidance Near Range-Top
GBP/USD is kissing key resistance at the 1.5800 handle with a void of reversal candlesticks clouding the outlook for the pair.
Strategy Video: When to Go for the Short-Term or Long-Term Trade
There is never one opportunity to be found in the market.
GBP/USD Technical Analysis: 1-Month Down Trend Broken
EUR/GBP Technical Analysis: Familiar Range Remains in Play
GBP/JPY Technical Analysis: Treading Water Below 187.00
Bullish US Dollar Undermined by Shaky October Durable Goods Orders
This morning’s top economic report generates mixed US Dollar sentiment.
EUR Short Covering Elusive as More Talk of QE Inspires Bears
Fundamental pressures are preventing key technical levels from being achieved by Euro bulls.
GBP/USD Doji On The Daily Denotes Indecision As Range Endures
GBP/USD’s sideways range endures with a Doji on the daily suggesting traders remain indecisive on the pair.
Japanese Yen May Rise as Year-End Capital Flows Begin to Emerge
The Japanese Yen may rise as year-end profit-taking begins to emerge. The British Pound looks to revised third-quarter GDP figures to inform BOE rate hike speculation.
Dollar and Yields Slide Despite Improved US Data
Though the Dow Jones FXCM Dollar Index (ticker = USDollar) marked a fresh five-year high on an intraday basis, the benchmark marked little progress at the end of the day.

British Pound Trading Forecast

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Current Time:

GMT0 09:26    

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Date Time Currency Event Importance Actual Forecast Previous Notes
Wed
Nov 26
09:30
GBP Gross Domestic Product (YoY) (3Q P) 3.0% 3.0% 3.0%

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.