I think people overcomplicate this issue with regards to learning formulas and tricks, where all thats required is developing some good intuition. All you really need to do is understand what the Quote is saying.
The quote USD/GBP at 1.6 1.7 is saying that if you need to convert GBP to USD, the broker will give you 1.6 USD, but will charge you 1.7 USD.
Use the less favourable everytime |