The value of Sterling (GBP) has steadily increased in recent weeks, particularly when paired with the US dollar (USD) and Euro (EUR) currencies. In fact, the GBP increased against all but one of its 16 major currency peers, and Mark Carney, the Governor of the Bank Of England, is largely responsible for increases in the currency.
He originally stated that he had no immediate intention of increasing interest rates, and would only consider doing so in 2016. He then reassessed his views much sooner than expected. In the central bank meeting on June 12th, 2014, he revealed that the first interest rate increases could happen sooner than expected
The UK has recently reported increases in house prices and the demand for housing continues amidst statements from the Bank Of England’s chief economist, Andrew Haldane who stated that Britons shouldn’t expect borrowing costs to rise to the levels that prevailed before the global financial crisis
Unemployment has dropped more than foreca/o a five-year low of 6.6%. These factors show a strengthening economy, which has helped GBP increase in value.
We recommend that all those trading on currencies should consider GBP pairings.
Forex and Binary Brokers Offering GBP Currency Pairings
We pride ourselves on showcasing you with the very best brokers to trade currency pairings in both Forex and Binary Options. We have reviewed, tested, and approved the following brokers.
- Alpari – Our reviewers recently put Alpari, one of the worlds leading Forex brokers, through their paces. This regulated broker provides a faultless trading experience. It’s also fully licensed and regulated.
- CherryTrade – When it comes to trading currencies online you are going to find a number of binary options brokers that are suitable. CherryTrade comes recommended as they offer GBP pairings with USD and EUR, the two currencies that GBP is currently experiencing an all-time high against.
- Markets.com – One of the best Forex brokers around today and one that has been receiving rave reviews from our traders. Markets.com really is one of the best-run Forex trading sites around and offers nine currency pairings with the GBP that can be explored with either fixed or floating spreads.
Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.
