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The nickname dates back to the 19th century, when the GBP/USD exchange rate was transmitted between London and New York via a transatlantic telegraph cable.
GBP/USD can see sharper swings around Bank of England policy decisions, UK economic data and political developments, in addition to the usual US-side drivers that affect all USD pairs.
Liquidity is typically highest during the London trading session and its overlap with the New York session, when both UK and US markets are open.
Log in to your Pairmetric MetaTrader 5 account, search for GBP/USD in Market Watch, and open a buy or sell position based on your analysis.
Given the pair's sensitivity to Bank of England and Federal Reserve announcements, many traders monitor the economic calendar for scheduled UK and US releases before opening a position.