Brokers With the Highest Volume for GBP/USD
High volume usually refers to the number of lots traded in currency pairs. There is some advantage of trading in high volume. For example, it minimizes volatility, reduces liquidity risk, and tends to have a smaller spread. Trading with high volume also offers more opportunities for traders. That is why a lot of experienced traders choose forex broker with the highest volume .
Choosing the right broker is very important. A different broker might have different rules and this might affect your trading activities. If you trade on GBP/USD, you can refer to this list of brokers with the highest volume for GBP/USD.
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What's the history behind GBP/USD?
The history of GBP/USD mainly began after the gold standard. The modern GBP/USD exchange rate did not really start until the early 1970s, when both the US and the UK switched to the floating exchange rate. Admiral Markets noted that prior to the 1970s, the forex rate of the British Pound and many other currencies were heavily tied to the value of gold. This was part of the Bretton Woods agreement that took place in 1944.
Continue Reading at An Admirals' Guide to Trade GBP/USD Successfully
What happened to GBP/USD during Brexit?
The Brexit vote caused GBP reach its lowest point in 30 years of forex historical data. In fact, it is the weakest GBP/USD exchange rate since 1985. The main difference is that in the 1980s, it was more about the Dollar's strength, while in 2016, it was all about the Sterling weakness.
Another historical moment called "the Sterling flash crash" happened in late 2016. During this time, the Pound moved 6% lower against the Dollar in just a matter of minutes. While the exact cause is still debatable, such an event was enough to shake the currency market for a while.
Continue Reading at An Admirals' Guide to Trade GBP/USD Successfully
How the GBP/USD exchange rate works?
So, let's say the price of GBP/USD is 1.2400. If you want to buy GBP/USD, then you need 1.24 USD to buy 1 GBP. But if you want to sell GBP/USD, then you will receive 1.24 USD for every 1 GBP.
A unit of measurement in forex trading is called a pip, whose value is 0.0001 of the quoted price. So, if the price moves from 1.24587 to 1.24597, this means one pip move. This is a part of the trading cost, so the wider the spread, the higher the cost.
Continue Reading at An Admirals' Guide to Trade GBP/USD Successfully
Why is GBP an important currency?
Pound (GBP), also called Sterling or Pound Sterling, was the world's leading currency before the US Dollar became the most used currency in global trade transactions. Although its influence has dwindled across the decades, it is still one of the major currencies following the UK's role as one of the world's financial trade centers.
GBP/USD, consequently, is the third most traded currency pair in the world, covering an average of 8.8% of global currency trade every day, and is moving at an average of around 160 pips each day.
Continue Reading at Tips on How to Trade GBP/USD
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