GBPUSD, nicknamed 'cable', is one of the major pairs and usually has a wider daily range than EURUSD. That extra movement creates opportunities, especially at the London open, but it also requires slightly wider stops and smaller size.
What moves it
- Bank of England decisions and UK inflation, jobs and GDP data.
- US data and Fed policy, like every dollar pair.
- UK political news, which can create sudden moves.
When to trade it
The London open is the key moment: GBPUSD often makes a large part of its daily range between 07:00 and 10:00 UTC. The New York session adds a second wave when US data comes out.
Practical tips
- Use stops of about 15–25 pips on intraday trades and size down accordingly.
- The London breakout of the Asian range works well on cable on trending days.
- Avoid holding through UK CPI and Bank of England decisions.
- Do not trade GBPUSD and EURUSD in the same direction at full size at the same time.