GBP/USD is one of the most popular currency pairs in the world. It represents the ratio of the British pound to the Dollar of the United States of America. This abbreviation shows the value of one pound for a certain amount of U.S. dollars.
This financial instrument is especially popular in Western Europe and in the USA. This currency pair is the third most popular currency pair of all over the world. The daily turnover on the trading instrument is about 12% of the total trading volume on the international Forex market. A feature of this currency pair is its high volatility and low predictability. When you trade on the financial instrument, you can often observe unstable and short-term fluctuations. For this reason, many traders do not trust the given currency pair when trading in the Forex market. Fluctuations in the price of the currency pair can be large, up to 140 points and above. Currency pair GBPUSD is a highly liquid while the European and American stock exchanges. Low trading activity occurs during working hours, the East-Asian region. Since this currency pair is very unpredictable, this trading instrument is not recommended for beginners for trading using the trading symbol.
The rate movement of the currency pair GBPUSD is synchronously with the movement of prices for the currency pair EURUSD. Price movements of these two currency pairs can vary quite dramatically. This is due to periods of release of important economic news, which are strongly affecting the movement rate on these currency pairs. For example, the central bank of England may announce its intention to change the interest rate. In this case, the market will quickly react to the news by certain minor fluctuations, but at the time of release of information about the new value of the interest rate, the market immediately reacts to the news by a sharp jump rate in a given direction. For this reason, traders should be especially careful not to get a loss for open positions. The process of moving the pound is similar to the euro and Swiss franc movements. However, trade in the pound sterling can be quite unpredictable, for the simple reason that it was unclear how the currency behaves in next time. Pound often behaves against published economic news.
Last patterns for this instrument
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Trading leveraged products such as forex and CFDs carries a high level of risk and may not be suitable for all investors. There is a possibility to lose all you initial capital. Before trading you should fully understand the true extent of your exposure to the risk of loss and your level of experience.