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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

US Dollar Risks to the Downside on a Break of these Key Levels
The US Dollar continues to trade at pivotal support versus the British Pound, Japanese Yen, and other major FX counterparts. Where can it go on further breakdown?
FOMC Decision Holds Reins on Dollar and SPX, Pound Mixed after GDP
Market activity this past session carried the distinct sense of the deep breath before a big exhale.
GBP/USD Technical Analysis: Range Resistance Back in Play
EUR/GBP Technical Analysis: Euro Down Trend Resuming?
Strategy Video: Dollar Awaits Fed Promise to Hike or Hold Through 2015
Dollar traders stand in wait for the Fed's position on monetary policy when it updates the market Wednesday.
GBP/JPY Technical Analysis: Pound Finds Interim Support
Hawkish BoE and Fed Look to Data for 2015 Liftoff
With UK’s Monetary Policy Committee slated to meet next week and FOMC meeting tomorrow, how strong is the pull for the BoE and Fed hikes on this week’s GDP updates?
GBP/USD 1.5700 Still of Interest for Resistance
GBP Gains from GDP Report, BoE Rate Hopes - USD to Follow on FOMC?
The two currencies whose central banks are closest to raising rates are in the midst of an important few days.
Pound May Rise as 2Q UK GDP Data Boosts BOE Rate Hike Bets
The British Pond may rise as a pickup in second-quarter UK GDP growth boosts Bank of England interest rate hike speculation.

British Pound Trading Forecast

Symbol Forecast Outlook

Forex Economic Calendar

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Date Time Currency Event Importance Actual Forecast Previous Notes
Jul 28
GBP Gross Domestic Product (QoQ) (2Q A) 0.7% 0.7% 0.4%
GBP Gross Domestic Product (YoY) (2Q A) 2.6% 2.6% 2.9%

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.