Free channel

GBP/USD: British pound against the US dollar

A practical guide to GBP/USD: how the price is quoted, when it is most active, what drives it and how to size trades on it.

Last updated: · By Forexuro Desk · Editorial policy

Published · Reviewed by the Forexuro Desk editorial team

Free on Telegram. Join the free Forexuro Telegram channel for daily GBP/USD and gold updates, key levels and a heads up before big releases.

Join the free Telegram channel
Free, opens Telegram

Overview

GBP/USD prices one British pound in US dollars. It is known as cable, a name that dates from the transatlantic telegraph cable once used to send the rate between London and New York. It is one of the most traded majors and is closely followed by UK traders because it reflects both UK and US economic news.

How the quote works

A quote of 1.3400 means one pound buys 1.3400 US dollars. One pip is 0.0001, worth 10 dollars on a standard lot of 100,000 pounds. New to quotes? Read how to read a forex quote and the glossary entries for pip and lot.

When it trades

The pair is most active from the London open through the overlap with New York. UK data such as inflation, jobs and GDP are released at 7am UK time, before the cash market opens, and Bank of England decisions come at midday UK time. US releases at 8:30am New York time often bring a second burst of activity.

See the live market sessions clock to check which centres are open in your time zone.

What moves GBP/USD

  • Bank of England policy. Expectations for UK interest rates are the main domestic driver. Votes split between members and guidance in the Monetary Policy Report can move the pound as much as the decision itself.
  • UK inflation and jobs. UK CPI and the labour market report shape what the Bank of England is expected to do next. In October 2026 a higher than expected September inflation reading pushed rate hike bets higher.
  • US data and the Fed. As with every dollar pair, US inflation, payrolls and Federal Reserve decisions matter.
  • UK fiscal news. Budgets and gilt yields can move the pound when markets question the public finances.
  • Global risk mood. The pound often behaves as a risk sensitive currency against the dollar in market stress.

Key events and central banks

The central banks that matter most for GBP/USD: Bank of England, Federal Reserve. Current policy rates, sourced from each bank, are on our central banks page. These scheduled releases often move the market:

See all economic events explained.

Volatility explained

Cable is often more volatile than EUR/USD. It can move quickly on UK data surprises and Bank of England meetings, and liquidity can thin outside London and New York hours, which can mean wider spreads and slippage. Use a current ATR reading to size stops instead of a fixed number.

Forexuro does not publish a fixed "average daily range" for GBP/USD here, because any such number goes out of date quickly and depends on the period chosen. Measure it on your own platform over the window you trade.

Pip value and position size

Use the GBP/USD pip value calculator to see what one pip is worth in your account currency, then the position size calculator to turn your risk and stop into lots. Keeping risk per trade small, often 1% or less, is the main protection against a run of losses; see risk management for traders.

Forexuro GBP/USD signals

Forexuro publishes forex signals with an entry, stop loss and take profit levels. See the GBP/USD signals page for how they work on this market. Every closed Forexuro trade is published on the trade history page. Daily market notes, including GBP/USD when it is in focus, go out free on the Forexuro Telegram channel.

GBP/USD in the Forexuro record

In the current results window (August 2026 to 23 October 2026) 45 GBP/USD signals closed: 37 reached a take profit (TP3 on 27 of them), 5 hit the stop and 3 closed at breakeven. That is a success rate of 88.1% and +1,884 pips. Across all markets in the same window the success rate is 87.7% from 240 closed signals, the figure on the results board.

Success rate is take profit closes divided by take profit plus stop loss closes, for signals closed from August 2026 to 23 October 2026, the same rolling window and method as the results board. Breakeven exits are not counted as losses and are listed separately. Pips are measured to the highest target reached and exclude spread, swap and slippage. Every signal since November 2023 is in the trade history and the CSV record; see how results are scored. Past results do not guarantee future results.

This week's outlook

Read the GBP/USD weekly outlook for the week of 26 October 2026, a sourced analysis of the events and levels in focus, or browse all weekly forecasts.

Practical tips

  • Allow for wider stops than on EUR/USD and size down to keep the same money risk.
  • Note the 7am UK data times and Bank of England days in your plan.
  • See our cable guide for the history and structure of the pair.

Other markets: EUR/USD · USD/JPY · USD/CHF · AUD/USD · USD/CAD · NZD/USD · EUR/GBP · XAU/USD

Frequently asked questions

Why is GBP/USD called cable?

The name comes from the telegraph cable under the Atlantic once used to transmit the exchange rate between London and New York.

What moves the pound most?

Bank of England rate expectations, UK inflation and jobs data, and the US dollar side of the pair.

Is GBP/USD good for beginners?

It is liquid, but it can move fast. Beginners often start with smaller size on it than on EUR/USD.

What is a pip on GBP/USD?

0.0001, worth 10 dollars on one standard lot.

Education only, not financial advice. Trading forex, gold and CFDs carries a high risk of losing money, and leverage magnifies both gains and losses. Past performance is not a reliable guide to future results. Read our risk disclosure.