Trading hours
Typically open from Sunday 22:00 to Friday 22:00 UK time, with a short pause around the 22:00 rollover at some brokers. Most of the movement happens during London hours. Times on your chart follow your broker's server clock.
| When | UK time | New York time | Note |
|---|---|---|---|
| Weekly open | Sunday 22:00 | Sunday 17:00 | Typically, at most CFD brokers. Sydney and Wellington are already in their Monday morning. Some brokers open a few minutes later and the first minutes can have wide spreads. |
| Daily rollover | 22:00 each weekday | 17:00 | The trading day ends and overnight financing (swap) is charged. Typically there is no long break, but spreads widen for a few minutes either side. Some brokers pause quotes for one to five minutes. |
| Friday close | Friday 22:00 | Friday 17:00 | Typically. Many brokers stop a few minutes early, for example 5 minutes before the hour. Closed all of Saturday. |
| Busiest hours | 13:00 to 17:00 | 08:00 to 12:00 | London and New York are both open. Most volume and most of the big US data releases fall in this window. |
Forex hours are set by New York time: the week opens and closes at 5pm New York time. The UK and the US change their clocks on different dates, so the UK time moves for a few weeks a year. For most of the year the open and close are at 22:00 UK time. In the gap weeks, when the US has changed and the UK has not, they fall at 21:00 UK time. In spring the US moves its clocks forward on the second Sunday of March and the UK on the last Sunday of March (14 March and 28 March in 2027), so for those two weeks the close is 21:00 UK. In autumn the UK moves back on the last Sunday of October and the US on the first Sunday of November (in 2026 that was 25 October and 1 November), so for that week the close is again 21:00 UK. US data at 8:30am New York time lands at 13:30 UK time for most of the year and 12:30 in the gap weeks. Your broker's chart times follow its server clock, which many brokers set to two hours ahead of UK winter time so that each daily candle starts at the 5pm New York rollover.
What is GBP/USD?
GBP/USD is the price of one British pound in US dollars. A price of 1.2900 means one pound buys 1.29 dollars. It is often called Cable, a name from the telegraph cable under the Atlantic that once carried the exchange rate between London and New York.
The Bank for International Settlements found that sterling was on one side of 10.2% of all currency trades in April 2025, making it the fourth most traded currency. GBP/USD tends to move further in a day than EUR/USD and reacts sharply to UK inflation data and Bank of England decisions.
The trading sessions
Usually quiet for sterling. Price often sits in a narrow range and the Asian high and low become levels for London to test.
This is the pound's home session. UK data comes out at 07:00 UK time, and the Bank of England announces at 12:00. The first two hours often set the high or low of the day.
US data at 13:30 UK can push the pair hard. After London closes, ranges usually shrink.
The busiest stretch of the forex day. US data at 13:30 UK time often sets the direction for the afternoon, and the London 4pm fix (16:00 UK) can bring a burst of orders.
Contract facts
One pip is 0.0001 (the fourth decimal place). Most brokers quote a fifth decimal, a tenth of a pip.
1 standard lot = 100,000 pounds. A mini lot (0.1) is 10,000 pounds and a micro lot (0.01) is 1,000 pounds.
One pip on 1 standard lot is worth 10 US dollars (100,000 x 0.0001). On a mini lot it is 1 US dollar.
CME British pound futures (symbol 6B): 62,500 pounds per contract, minimum move 0.0001, traded on CME Globex Sunday to Friday 5:00pm to 4:00pm Chicago time with a 60 minute daily break.
How far it usually moves
Varies; check the Average daily range indicator. It averages the distance from each day's high to its low (by default over the last 14 days) and draws the expected high and low for today. We do not quote a fixed number because the range changes with news and volatility.
What moves GBP/USD
Bank of England interest rate decisions, the vote split and the Monetary Policy Report.
UK inflation (CPI), wages and jobs data, and GDP.
US Federal Reserve decisions and US data such as jobs and inflation.
UK government budgets and borrowing costs (gilt yields).
Political news in the UK.
Risk mood. The pound tends to weaken when markets sell off sharply and money runs to the dollar.
Scheduled events to watch
Eight a year, on Thursdays. Next: 17 December 2026. 2027: 4 February, 18 March, 29 April, 17 June, 29 July, 16 September, 4 November, 16 December. The Monetary Policy Report comes with the February, April, July and November decisions.
Monthly, from the Office for National Statistics, usually mid month on a Wednesday.
Monthly.
Eight meetings a year. Press conference 30 minutes later. Remaining dates: 8 to 9 December 2026 (decision on the 9th). 2027: 26 to 27 January, 16 to 17 March, 27 to 28 April, 8 to 9 June, 27 to 28 July, 14 to 15 September, 26 to 27 October, 7 to 8 December (2027 dates are tentative until confirmed).
Usually the first Friday of the month. Next: 6 November and 4 December 2026.
Monthly, usually in the middle of the month.
What it tends to move with
Tends to move in the same direction as EUR/USD, though the pound usually moves further.
Tends to move opposite to the US Dollar Index (DXY).
UK news can split the two: on a UK data day GBP/USD can move while EUR/USD stays still.
These are tendencies, not rules.
Tips for trading GBP/USD
On Bank of England days, wait for the 12:00 UK candle to close before acting. A breakout of the morning range is the idea; a close back inside that range within 30 minutes proves it wrong.
Use the London open break: mark the high and low from 00:00 to 07:00 UK. A close beyond one side is the trigger, and a close back on the other side of the range proves it wrong.
Because GBP/USD moves further than EUR/USD, a stop that suits EUR/USD is often too tight here. Measure the stop in pips from a level and size the lot down.
Round numbers such as 1.2800 and 1.3000 attract orders. A bounce idea is wrong if price closes 15 pips or more through the round number.
Watch for fakeouts around 07:00 UK, when UK data lands at the same time as London opens. A spike that closes back inside the prior range on the 15 minute chart proves the breakout wrong.
Connect your cTrader account once and GBP/USD appears on WickSpeak at your own broker's prices. Trades are placed only from a Playbook play where you switch live trading on; otherwise WickSpeak just reads the chart. Key levels (pivots, previous day high and low, average daily range levels, round numbers) are drawn with how many pips away each one is, and every indicator writes a plain-English reading on the live candle.
Related markets
Sources: bis.org, bankofengland.co.uk, cmegroup.com, federalreserve.gov, bls.gov, pepperstone.com. Checked 2026-11-05. Broker hours follow your broker's server clock and can differ.
Questions traders ask
Why is GBP/USD called Cable?
In the 1800s the exchange rate between London and New York was sent along a telegraph cable laid under the Atlantic. Traders have called the pound dollar rate Cable ever since.
What time does the Bank of England announce interest rates?
At 12:00 UK time on the decision day, which is always a Thursday. There are eight decisions a year. The next one is on 17 December 2026.
What is the best time to trade GBP/USD?
London hours, from about 08:00 to 17:00 UK time, and especially 13:00 to 17:00 when New York is also open. The Asian session is usually much quieter for sterling.
How much is one pip on GBP/USD?
One pip is 0.0001. On 1 standard lot of 100,000 pounds it is worth 10 US dollars. On a mini lot it is 1 dollar.
What time does the forex market close on Friday in the UK?
Typically at 22:00 UK time, which is 5pm in New York. In the gap weeks when the clocks have changed in one country only, it is 21:00 UK. Many brokers stop a few minutes before the hour.