GBP USD exchange rate in a plain language can be referred to as the amount of money in one currency (GBP) that needs to be given up in order to obtain its equivalent value in another currency (USD). The GBP/USD currency pair refers to the total amount of GBP needed in order to purchase 1USD. It tells the traders how much they are to forego if they want to buy 1USD in GBP. The exchange rate of any currency pair can be used to study the past, present and future behavior of a currency pair in the forex market. The GBP USD exchange rate can be sorted out by year, month and, day and week depending on the interest of the trader. The major aim of the GBP USD exchange rate 2012 is to show the traders how the currency pair fared in the market.
SUMMARY OF THE GBP USD EXCHANGE RATE IN 2012
MONTH EXCHANGE RATE
ADVANTAGES OF GBP USD EXCHANGE RATE 2012 TO TRADERS
GPB USD exchange rate 2012 has the following advantages to the trader.
1. TRADE PREDICTION
Since the rates are coming from the past, their values can be compared with what is obtainable today in order to predict what the values may likely turn out to be in the nearest future. The GBP USD currency pair values from the data generated in 2012 can be used by expert traders to predict the outcome of the next trade. They can be able to confidently say if trading in the pair can yield a positive or negative result.
2. PROVISION OF INFORMATION
In all aspects of business, information is king. The main reason behind displaying exchange rates is to give the trader information on the happenings in the market in terms of exchange rates. It doesn’t matter how long the rates were published as long as the trader is interested in the values, he/she can be able to access them.
3. IT IS USED IN PLANNING
Forex trade is for traders who are willing to take calculated risks in order to obtain results. With the GBP USD exchange rate 2012, the trader can be able to sit and plan on the best way and time to invest into the market in order to obtain maximum profit. The rates will give the trader a signal on the best time to either enter or leave the market.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.