Trade GBP/USD, the pair traders call Cable
GBP/USD prices how many US dollars one British pound buys. One of the oldest traded pairs, it is known for livelier moves than EUR/USD, which attracts active day traders who want more movement from a highly liquid major.
- 24/5 trading
- Buy or sell
- Regulated by FSC Mauritius
GBP/USD
Spreads from, pips · Premium
1.0
About GBP/USD
British pound vs US dollar
The nickname Cable dates back to the 19th century, when sterling and dollar exchange rates were transmitted across the Atlantic by telegraph cable. Today the pair is among the four most traded in the world, and London, the largest forex trading centre, is its home market.
Sterling reacts strongly to UK inflation and wage data, because they shape how long the Bank of England keeps rates high. UK fiscal events, such as the annual Budget, and moves in gilt yields can also move the pound sharply.
- MT5 symbol
- GBPUSD
- Known as
- Cable
- Pip size
- 0.0001
- Trading hours
- 24/5
- Central banks
- Bank of England and US Federal Reserve
- Pip value (1 lot)
- $10 per standard lot (100,000 units)
- Character
- Livelier than EUR/USD, wider daily ranges
What moves it
4 forces that drive GBP/USD
Bank of England
The MPC's eight decisions a year, and the vote split between members, are closely watched for the rate path.
UK inflation and wages
CPI and average earnings data can shift BoE expectations and move GBP/USD by dozens of pips.
The US dollar side
US payrolls, CPI and Fed decisions move Cable as much as UK news does.
Fiscal and political news
Budgets, elections and gilt-market stress can hit sterling quickly, so check the calendar before holding through them.
When to trade
Best hours and key releases for GBP/USD
Most active: The London session from about 07:00 GMT, and the London–New York overlap (roughly 12:00–16:00 GMT).
| Session | GMT | UAE time |
|---|---|---|
| Sydney | 21:00–06:00 | 01:00–10:00 |
| Tokyo | 00:00–09:00 | 04:00–13:00 |
| LondonActive | 07:00–16:00 | 11:00–20:00 |
| New YorkActive | 12:00–21:00 | 16:00–01:00 |
Releases that move GBP/USD
- UK CPI inflationMonthly, at 07:00 UK time.
- UK labour market reportMonthly: jobs, unemployment and wages.
- BoE rate decisionEight times a year, with the vote split.
- UK GDP and PMIsMonthly GDP estimate and PMI surveys.
- US payrolls, CPI and FOMCThe main US-side catalysts.
Spreads can widen and prices can gap around these releases. Check an economic calendar for exact dates and times.
Pricing
GBP/USD spreads by account
Choose the account that fits your trading. The live GBP/USD spread is always shown in MT5 before you place an order.
Classic
Spread-only, no commission
Spreads from
1.6 pips
- Commission
- None
- Min. deposit
- $100
Premium
Lower spreads, no commission
Spreads from
1.0 pips
- Commission
- None
- Min. deposit
- $3,000
VIP
Raw spreads plus commission
Spreads from
0.0 pips
- Commission
- $6 per 1.00 lot round turn, proportional to lot size
- Min. deposit
- $25,000
* Indicative typical spreads, may vary; last updated 28 September 2026. Spreads are variable and may widen during news releases and low-liquidity sessions. Commissions may apply depending on account type.
Leverage magnifies both gains and losses. Maximum leverage depends on the instrument, account type and your jurisdiction.
Get started
How to trade GBP/USD on MT5
- 1
Open an account
Register online, verify your identity and choose Classic, Premium or VIP. - 2
Fund your account
Deposit with one of the available methods in the client portal. - 3
Find GBPUSD in MT5
Log in to MetaTrader 5, open Market Watch and add GBPUSD to see the live price and spread. - 4
Plan and place the trade
Set your position size and stop-loss, then choose Buy if you expect the pair to rise or Sell if you expect it to fall.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Forex prices, including GBP/USD, can move quickly against you, especially around news releases.
FAQ
Frequently asked questions
What is the spread on GBP/USD at IST Markets?
Spreads on IST Markets accounts start from 1.6 pips on Classic, 1.0 pips on Premium and 0.0 pips plus commission on VIP. The spread on GBP/USD is variable and depends on market conditions; the live spread is always shown in MT5 before you trade.
What is the pip value of GBP/USD?
One pip on GBP/USD is a price move of 0.0001. On one standard lot it is worth $10 per standard lot (100,000 units); a mini lot (0.10) is worth a tenth of that and a micro lot (0.01) a hundredth. Use the free pip calculator to work it out for your trade size.
What is the best time to trade GBP/USD?
The pair trades 24 hours a day, Monday to Friday. It is usually most active during The London session from about 07:00 GMT, and the London–New York overlap (roughly 12:00–16:00 GMT). Liquidity tends to be thinnest around the daily rollover and late on Fridays, when spreads can widen.
Why is GBP/USD called Cable?
In the 1800s, pound and dollar exchange rates were sent between London and New York by the transatlantic telegraph cable, and the name stuck.
Is GBP/USD more volatile than EUR/USD?
It usually moves in wider daily ranges than EUR/USD. That means more opportunity but also more risk per position, so many traders use a smaller position size on Cable.
Ready to trade GBP/USD on MT5?
Register in about 5 minutes; account verification may take longer.