The GBPUSD currency pair depicts the exchange rate between GBP and USD. This currency pair is one of the most traded assets in the forex market due to the significance of the American and British economies.

What is GBPUSD?

The Bank of England manages the United Kingdom's currency, the Great Britain Pound (GBP). It's the fourth most traded currency and the world's third most held reserve currency. GBP is the oldest and one of the most commonly converted currencies. The USD is the currency of the United States, which the Federal Reserve Bank manages. It's the most traded currency and a standard in the commodity market. Due to this reason, fluctuations in its value influence commodity prices as well. Various factors, including trade relations, political continuity, interest rate, economic growth, market sentiment, etc., influence the GBPUSD price. Therefore, it's recommended to consider these factors for traders who want to understand how to invest in GBPUSD.

How Does GBPUSD Work?

Traders trade the pair in the forex market, a decentralized market to buy and sell currency pairs. They speculate on the movement of the GBPUSD exchange rate from the differences in the pair's price. For example, if the traders expect the price of GBP will increase shortly, they buy the pair intending to sell it later at an increased rate. In this way, they generate profits. Even so, every investor wanting to learn how to trade GBPUSD must remember the risk of potential losses. The SimpleFX platform provides a demo account where potential investors can start their learning. It gives access to real-time trading data without any financial risks.

GBPUSD price history

Constantly changing exchange rate directions can cause traders a significant financial loss. Therefore, tracking the past performance of the pair is essential. Considering this, here's a brief overview of the last performance of the GBPUSD pair.

2018

On 1st January 2018, the GBPUSD price was 1.3513 USD; on 31st December 2018, the exchange rate was 1.2741 USD. The highest exchange rate of the year was 1.4339 USD on 16th April 2018, and the lowest was 1.2493 USD on 11th December 2018. The average exchange rate in 2018 was 1.3349 USD.

2019

At the year's commencement, the GBPUSD was 1.2752 USD; on the last day of the year, the exchange rate was 1.3262 USD. The year's peak exchange rate was 1.347 USD, and the lowest value in 2019 was 1.2033 USD on 11th August 2019. The average exchange rate of the year was 1.2772 USD.

2020

The year began with a GBPUSD price of 1.3251 USD and ended at 1.3672 USD, the year's best performance. The lowest exchange rate was 1.1492 USD, recorded on 19th March 2020, and the average exchange rate was 1.2837 USD.

2021

On 1st January 2021, the GBPUSD exchange rate was 1.3673 USD; on 31st December 2021, it was 1.3532 USD. The year's highest exchange rate value was 1.4217 USD on 31st May 2021, and the lowest recorded value was 1.3208 USD on 8th December 2021. The year's average exchange rate was 1.3757 USD.

2022

At the beginning of the year, the exchange rate was 1.3532 USD; by the end, it dropped to 1.2098 USD. The year's peak value of 1.3712 USD was recorded on 13th January 2022, and the lowest value was 1.0697 USD on 26th September 2022. The year's average exchange rate was 1.2369 USD.

Current GBPUSD price

The current GBPUSD price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is GBPUSD a good investment?

Whether GBPUSD is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors eager to learn how to invest in forex worldwide.

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