Value of Pips

Value of Pips
But if the base currency is not the U.S. dollar, then the value of one pip is equal
to one unit of the base currency. In the GBP/USD, because the pound sterling is the base currency,
one pip is equal to one pound; in the AUD/USD, one pip equals one Australian dollar.
Therefore, when you take profits in these currencies, you're taking them in the base currency,
which then must be exchanged into the U.S. dollar at the current exchange rate.

A gain of fifty pips in the GBP/USD equals not U.S. $50, but £50.
If the exchange rate was still 1.7609, then the profit after conversion would be around U.S. $88.

But a gain of fifty pips in the AUD/USD equals AU $50, and the exchange rate is more likely
to be around 0.7467. So the profit would be closer to U.S. $37.