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What I would pay attention to when trading GBP/USD

1. UK economic data releases
As the GBP is the base currency in this currency pair, any UK economic data releases, such as GDP, inflation, and employment figures, can significantly impact the pair's value. For example, if UK economic data is stronger than expected, the GBP/USD pair could rise in value, while weaker-than-expected data could cause the pair to fall.
US economic data releases: Economic data releases from the US, such as non-farm payroll numbers and interest rate decisions from the Federal Reserve, can also impact the GBP/USD pair. Stronger-than-expected US economic data can cause the USD to strengthen against the GBP, while weaker-than-expected data can lead to a weaker USD and a stronger GBP.
2. Geopolitical events:
Other geopolitical events, such as trade agreements, can also impact the GBP/USD pair. For example, if there is a significant trade agreement between the UK and the US, the GBP/USD pair could strengthen.
3. Bank of England announcements:
The Bank of England's monetary policy decisions, including interest rate decisions and quantitative easing measures, can also impact the GBP/USD pair.
And finally, of course, the Brexit developments
It's important to stay informed about these events and use them to inform your trading decisions. Be sure to have a solid understanding of fundamental and technical analysis, and develop a comprehensive news and information strategy that incorporates both to help you make informed trades in the GBP/USD currency pair.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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