Most forex trading experts recommend the British pound to the US dollar pair due to its high volatility with low spreads. The pair is characterized by frequent price fluctuations, pip movements, and exchange rates. Therefore, it could result in large profits for any successful trader. However, one can also experience losses due to the high volatility.
These characteristics make it an ideal pair for day traders who wish to take advantage of the price fluctuations since they dip in and out at a quick pace. It is also best for other short-term trading options, such as swing trading.
However, performing technical analysis before trading in the GBP/USD pair is important. The minimum spread is 0.9, with a margin range of 3.3%.