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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

Pre-Holiday Data Keeps USD on Track versus EUR
After today's data, US-German yield spreads continued to suggest a weaker EUR/USD.
Fed Rate Hike Cycle Doesn’t Necessarily Bode Well for US Dollar
Higher interest rates tend to support a stronger currency. For the US Dollar, gains after a December Fed rate hike are anything but certain.
Dollar Loses Traction, Risk Turn Shallow, Pound Tumbles
Speculative moves by two of the global financial system's most prominent players - the US Dollar and S&P 500 - failed once again to achieve liftoff.
GBP/JPY Plummets Into Support- Sell Rips Sub 186
GBPJPY reversed off key resistance last week with the recent sell-off approaching initial support. Here are the updated targets & invalidation levels that matter.
GBP/USD Little Changed on Carney’s Testimony to Treasury Committee
The British Pound was little changed versus the US Dollar as BoE’s member’s testimonies provided no real surprises
EUR/USD, GBP/USD Best Ways to Express Bullish USD Bias
It's important to keep in mind the "forest" the next two days.
Pound Eyes Carney Comments, Euro May Overlook German Data
The British Pound looks to testimony from BOE Governor Carney for direction. The Euro may ignore German GDP and IFO data as near-term ECB bets predominate.
EUR/GBP Technical Analysis: Looking to Sell on Bounce
The Euro may have carved out a near-term bottom against the British Pound as expected after breaking above falling trend resistance set from mid-October.
Webinar: Dollar Crosses at Key Juncture Ahead of US Holiday
Setups we’re tracking into the shortened holiday week with the USD poised for its next big move. Here are the updated targets & invalidation levels that matter.
Video: EURUSD To Remain Bearish, U.S. Yield Outperforms
EURUSD slides to new lows on Dollar strength and on outperformance of U.S yields. Trigger behind the move is said to be hawkish comments by San Francisco Fed president Williams.

British Pound Trading Forecast

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Date Time Currency Event Importance Actual Forecast Previous Notes
Nov 24
GBP BOE's Carney, Haldane Testify to U.K. Treasury Committee
Nov 27
GBP Gross Domestic Product (YoY) (3Q P) 2.3% 2.3%

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.