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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

USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles
GBPUSD's rally after the Q3 UK GDP report was short-lived today.
GBP/USD Holds Above 1.6000 As UK 3Q GDP Remain Faithful To Estimates
UK 3Q GDP figures matched market expectations, while GBP/USD continued to trade above the psychologically significant 1.6000 level.
GBP/USD Dark Cloud Cover Delivers Further Declines
GBP/USD’s cautious creep lower has endured following a warning of weakness from a Dark Cloud Cover formation.
Pound to Fall on Ebbing BOE Rate Hike Bets if 3Q UK GDP Underperforms
The British Pound is likely to decline if a soft set of third-quarter UK GDP figures erodes Bank of England interest rate hike expectations.
GBP/USD at Risk for Fresh Monthly Lows on Slowing U.K. GDP
A marked slowdown in the U.K.’s 3Q Gross Domestic Product (GDP) may spur fresh monthly lows in GBP/USD as it drags on interest rate expectations.
British Pound Could Close Out Week with a Bang on UK GDP
With much of the FX market checking out through the final 24 hours of trade this week in deference to the heavy docket next week, there is one major that is still on the line for ...
Video: EURUSD, USDJPY Breakouts Unlikely to Form Trends
Both equities and the Dollar put in for another drive this past session, but how much momentum can these trends muster?
Video: Major Event Risk Can Move and Restrain EURUSD, USDJPY, GBPUSD
Major event risk can generate volatility and feed major trend, but their lead up can also curb markets
GBP/USD Technical Analysis: Head and Shoulders Forming?
EUR/GBP Technical Analysis: Support Found Below 0.79?

British Pound Trading Forecast

Symbol Forecast Outlook

Forex Economic Calendar

Current Time:

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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 (QoQ) (3Q A) 0.7% 0.7% 0.9%
08:30
GBP Gross Domestic Product (YoY) (3Q A) 3.0% 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.