GBP / USD
GBP is the abbreviation for the British pound sterling, which in this currency pair is traded against the United States dollar. The currency pair shows how many US dollars are needed to acquire one British Pound sterling.
British pound sterling (GBP, “Sterling,” “Cable”) is the 4th largest traded world currency. The Bank of England produces the GBP. The pound can be characterized by relatively high-cost in relation to the currencies of other countries belonging to the major. Often, the pound is used as a reserve currency.
The US dollar (USD, “Green”) is considered the best-selling world currency. The Federal Reserve System (FRS) produces the USD. It is the most common for trading currencies in the reserve team. US Dollar owns central banks, financial institutions, and private investors. When there is an instability in the state, the dollar currency is considered “safe haven” because of the level of reliability of the US economy. The dollar is used as a standard payment unit in commodity markets.