GBPUSD is a highly lucrative pair only if you know how to trade it correctly.
GBPUSD is a roller coaster and you suffer huge losses if you don't take risk management seriosuly.
Read this new blog post in which I analyze a recent GBPUSD swing trade that made 250 pips with a 10 pips stop loss.
Always focus on risk management. I never open a trade with a stop loss bigger than 20 pips.
Most of the time my stop loss is between 10-20 pips.
I only use pending order and have stopped using market orders a long time back.
My trading strategy entails first analyzing the weekly and the daily timeframe.
Once I have determined the direction of the market, I switch to H4 timeframe.
I determine the stop loss and the take profit levels and place a pending order.
After that my trade is set and forget.