GBP/USD pip value calculator
What one pip on GBP/USD is worth for your lot size, in USD, GBP or EUR, with the pair's pip size, contract specification and what moves it.
GBP/USD pip size and contract specification
GBP/USD is the price of one pound sterling in US dollars. The pair is often nicknamed "cable", a name that dates from the transatlantic telegraph cable once used to send the rate between London and New York. Our cable guide covers how the pair behaves.
| Specification | GBP/USD |
|---|---|
| Base currency | GBP (pound sterling) |
| Quote currency | USD (US dollar) |
| Pip size | 0.0001 (fourth decimal place) |
| Pipette (fractional pip) | 0.00001 |
| Standard lot | 100,000 GBP |
| Mini lot | 10,000 GBP |
| Micro lot | 1,000 GBP |
| Pip value per standard lot | 10 USD |
Brokers set their own contract terms, so confirm the lot size and quote precision in your platform's symbol specification.
GBP/USD pip value by lot size
The pip value in the quote currency is fixed: pip size × units traded. One standard lot of 100,000 GBP × 0.0001 = 10 USD per pip. Because the quote currency is the dollar, the pip value for a USD account is fixed at $10 per standard lot whatever the price.
| Lot size | In USD | USD | GBP | EUR |
|---|---|---|---|---|
| Micro (0.01) | 0.10 USD | $0.10 | £0.07 | €0.09 |
| Mini (0.10) | 1.00 USD | $1.00 | £0.75 | €0.89 |
| Standard (1.00) | 10.00 USD | $10.00 | £7.47 | €8.92 |
Converted with this site's reference rates dated 22 October 2026. The calculator above uses the current rates when you open it.
Worked example
A buy on GBP/USD at 1.3394 that closes at 1.3444 has moved 50 pips. On 0.10 lots that is 50 × 1.00 USD = 50.00 USD, or about $50.00 for a USD account at the reference rate.
What moves GBP/USD
The pair reflects policy at the Bank of England and the US Federal Reserve. Drivers that often move it include UK inflation, jobs and GDP data, and US inflation and jobs data. Activity is usually highest during the London session, especially the London and New York overlap; see the market hours clock for the times in your zone.
GBP/USD on a sterling account: why the pip value shifts with the price
Cable is the one major where a UK trader holds the pound itself. The pip is still worth $10 per standard lot, and on a sterling account those dollars are turned back into pounds at the GBP/USD rate, so the pound value of a pip is $10 ÷ the pair's own price. At the reference rate of 1.3394 that is about £7.47 per standard lot.
This creates a small effect worth knowing. If you buy GBP/USD and it rises, each new pip is worth slightly fewer pounds than the last, because the rate you convert at has risen. Take the worked example above: 50 pips on 0.10 lots makes $50, which is about £37.19 when converted at the exit price of 1.3444.
Margin on GBP/USD stays fixed in pounds
Under the FCA's rules for retail clients trading CFDs or spread bets, leverage on major currency pairs is capped at 30:1, a margin of 3.33% of the position's value. One standard lot of GBP/USD is £100,000, so the margin on a sterling account is about £3,333 whatever the exchange rate. On EUR/USD or USD/JPY the margin in pounds changes with the rates. Your broker may ask for more than the regulatory minimum, so check the figure in the margin calculator against your platform, and read leverage and margin explained for the background.
Sizing a GBP/USD position from your risk
Example only. The figures below are illustrative, use the reference rates dated 22 October 2026 and are not a trade or a result.
Say you are willing to lose £150 and your stop is 40 pips from entry. One standard lot would lose 40 × £7.47 = £298.80 if stopped. £150 ÷ £298.80 = 0.502, so 0.50 lots, which risks about £149.40. The position size calculator does this for you with current rates.
The UK releases that move cable come out in UK hours: UK CPI is published at 07:00 and the Bank of England rate decision at 12:00. Stops can be filled worse than planned at those times. See the GBP/USD guide, the GBP/USD weekly forecast, and how past calls closed in the trade history and on the verify page.
GBP/USD on Forexuro's results record
See every closed GBP/USD signal in the trade history.
See live ideas and the closed record on the GBP/USD signals page. Results are scored with the rules on the methodology page. Past results do not guarantee future results.
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Frequently asked questions
What is the pip value of GBP/USD?
One pip on GBP/USD is 0.0001, worth 10 USD per standard lot, 1 USD per mini lot and 0.10 USD per micro lot. For a USD account that is $10, $1 and $0.10.
How many pips is a 1 cent move in GBP/USD?
100 pips. A pip is 0.0001, so a move of 0.0100 is 100 pips.
What is a pipette on GBP/USD?
A pipette is a tenth of a pip, 0.00001 on GBP/USD. Most platforms show it as the fifth decimal place.
When is GBP/USD most active?
Usually during the London session, especially the London and New York overlap. Movement also tends to pick up around news on UK inflation, jobs and GDP data, and US inflation and jobs data.
Why does the pound value of a GBP/USD pip change when the pair moves?
On a sterling account the $10 per lot pip value is converted into pounds at the GBP/USD rate itself, so the pound value is $10 divided by the price. As GBP/USD rises each pip is worth slightly fewer pounds, and as it falls each pip is worth slightly more.
How much margin does one lot of GBP/USD need on a GBP account?
At the FCA's 30:1 retail leverage cap for major pairs the margin is 3.33% of £100,000, about £3,333 per standard lot, and it does not change with the exchange rate because the base currency is the pound. Brokers can require more than this minimum.
Calculators are for education and planning. They do not account for your broker's spread, commission, swap or contract terms. Trading forex and CFDs carries a high risk of losing money. Read our risk disclosure.