Trade British Pound / US Dollar with LHFX

GBP/USD, known as 'Cable,' tracks the British Pound against the US Dollar. This pair reacts strongly to Bank of England rate decisions, UK GDP and inflation releases, and political developments including post-Brexit trade policy. It tends to be more volatile than EUR/USD due to the UK's smaller economy.

GBPUSD Price Chart

Read the full GBPUSD explainer

Live GBPUSD Spread

Real-time market pricing

InstrumentBidAskSpread
GBPUSD
GBPUSD
---

Spreads are variable and sourced from the live market. Values shown are real-time.

Trading Conditions

Max Leverage

1:500

Commission

$3 per side

Platform

MetaTrader 5 + LHFX Trade

Execution

STP/ECN

Trading Hours

Sunday 5:00 PM - Friday 5:00 PM ET

About British Pound / US Dollar

GBP/USD, nicknamed Cable (after the transatlantic telegraph cable that first quoted the rate), is the third most traded forex pair globally and tracks the British Pound against the US Dollar. Cable is more volatile than EUR/USD. Daily ranges of 80-120 pips are typical, and major UK political or Bank of England news can produce 200+ pip moves in a session. The pair's higher volatility comes from the UK's smaller open economy, its more frequent political news cycle (compared with the multi-country Eurozone), and a tighter sensitivity to UK-specific data. At LHFX you trade GBP/USD with raw spreads from 0.0 pips, $3 per side commission, and leverage up to 1:500. The pair trades 24 hours a day from Sunday 5 PM ET through Friday 5 PM ET, with highest activity during the London session (3 AM to 12 PM ET).

What moves GBPUSD

  • 01Bank of England policy. BoE rate decisions and Monetary Policy Reports move Cable sharply. The MPC's voting splits (revealed in minutes and Reports) are also watched.
  • 02UK CPI and wages data. UK inflation prints and labour-market data drive BoE expectations and therefore GBP/USD.
  • 03Federal Reserve policy. As with all USD pairs, FOMC decisions are a major driver on the dollar leg of the trade.
  • 04UK political events. Budget announcements, election cycles, leadership challenges, and any Brexit-adjacent news produce single-session gaps and sustained directional moves.
  • 05UK-US yield spread. The differential between UK Gilts and US Treasuries (10-year, 2-year) is a reliable medium-term GBP/USD driver.

How to trade GBPUSD at LHFX

Add GBPUSD to your MT5 Market Watch. Spreads tightest during the London-NY overlap. Commission $3 per side; leverage up to 1:500. GBP/USD volatility is moderately higher than EUR/USD. Daily ranges of 80-120 pips are routine; 200+ pip days happen on BoE meetings, UK budgets, or major political events. Size positions so a 100-pip adverse move costs no more than 2% of your account. Watch BoE rate decisions (typically every 6 weeks), UK CPI release dates, and UK budget days. Many traders avoid positions through major UK political events given the gap risk. Worked example. On a $1,000 account at GBP/USD 1.2800, opening 0.1 lots (10,000 GBP notional) requires roughly $26 margin at 1:500. A 100-pip adverse move costs $100, or 10% of your account. Size down to 0.02 lots for a 2% risk budget.

Risks specific to GBPUSD

Cable carries higher event-driven risk than EUR/USD. UK political news (snap elections, budget surprises, leadership changes) can produce 100-300 pip moves in minutes. Brexit-related headlines, though less frequent than during 2016-2020, still occasionally drive sharp moves on EU-UK trade-deal news. Mitigations. Start at effective leverage of 1:30 or below. Stop loss on every position. Size down ahead of BoE meetings and major UK political events.

Frequently asked questions about GBPUSD

Why is GBP/USD called 'Cable'?

The name dates to the mid-1800s when GBP/USD rates were transmitted between London and New York via a transatlantic telegraph cable. Traders called the quote 'the cable rate'; the nickname stuck.

Why is GBP/USD more volatile than EUR/USD?

The UK is a smaller, more open economy than the Eurozone, with a more concentrated political cycle. UK-specific events have larger relative impact on GBP than equivalent events on the Euro, which is shared across 20 countries.

Can I short GBP/USD at LHFX?

Yes. You can open a sell GBP/USD position with the same leverage and commission as a long.

What leverage can I use on Cable?

Up to 1:500. Given GBP/USD's higher volatility, most experienced traders use effective leverage in the 1:20 to 1:30 range.

Recent British Pound / US Dollar analyses

Latest commentary on GBPUSD from LHFX Research

View all market analysis

Related Instruments

Ready to trade GBPUSD?

Open a live account in minutes and start trading with raw spreads and STP/ECN execution.