GBP to USD is one of the world’s oldest established currency pairs, with its origins in the forex markets dating back to the mid-19th century. The pair – one of the majors – is also referred to as the “cable”, referring to the transatlantic telecoms cable laid across the Atlantic Ocean floor as the first GBP USD rates were sent between the London and New York.
Pound sterling – the official currency of the UK – is the base rate of the pair, against which the US dollar is quoted. It has been, historically, a very liquid market and has offered forex traders attractive profitability. Backed by two of the world’s largest economies, GBP to USD is the third most popular forex pair – according to Bank for International Settlements research.