GBP/USD explained
GBP/USD is the currency pair that shows the value of the British Pound against the US Dollar. The left side of the pair is called the base currency, in this case the GBP, and the right side is called the quote currency, in this case the USD. This exchange rate tells you how many US Dollars you need to buy one British Pound. For example, if the GBP/USD pair is trading at 1.1500, it means that you need 1.15 US Dollars to buy one British Pound. So, when the pair is going up in price, the British Pound is said to be appreciating or getting stronger and the US Dollar is depreciating or getting weaker, and vice versa when the pair is going down in price. The GBP/USD pair is also called “Cable” because of the transatlantic cable that enabled faster communications between London and New York back in the mid-19th century.
Analyzing the GBP/USD Candlestick Chart
There are different ways you can display the exchange rate price movements on a chart. The most common ways include a line chart or a bar chart, but the most popular and used one is the candlestick chart. The candlestick chart shows you instantly and in real time where the price has opened, closed and how much up and down it went on any given timeframe.
GBP/USD is the currency pair that shows the value of the British Pound against the US Dollar. The left side of the pair is called the base currency, in this case the GBP, and the right side is called the quote currency, in this case the USD. This exchange rate tells you how many US Dollars you need to buy one British Pound. For example, if the GBP/USD pair is trading at 1.1500, it means that you need 1.15 US Dollars to buy one British Pound. So, when the pair is going up in price, the British Pound is said to be appreciating or getting stronger and the US Dollar is depreciating or getting weaker, and vice versa when the pair is going down in price. The GBP/USD pair is also called “Cable” because of the transatlantic cable that enabled faster communications between London and New York back in the mid-19th century.
Analyzing the GBP/USD Candlestick Chart
There are different ways you can display the exchange rate price movements on a chart. The most common ways include a line chart or a bar chart, but the most popular and used one is the candlestick chart. The candlestick chart shows you instantly and in real time where the price has opened, closed and how much up and down it went on any given timeframe.
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