empty
InstaForex - Official partner of Dragon Racing
InstaForex - Official partner of Dragon Racing
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
24.10.2022 09:27 AM
Analysis and trading tips for GBP/USD on October 24
Open trading account Open demo account

Analysis of transactions in the GBP / USD pair

The test of 1.1166 happened when the MACD line was just starting to move below zero, which was a good reason to sell. It resulted in a price decrease of over 60 pips. Sometime later, the pair tested 1.1103, but this time, the signal was to buy, which led to a 20-pip rise. Pressure returned soon after.

This image is no longer relevant

The latest retail sales data in the UK was disappointing, as was the public sector leverage. This is why pound is trading downwards even at the time of writing.

Today, important statistics are due in the UK, both in the services and manufacturing sectors. If the data show a decrease, pound will fall down. Even the speech of Bank of England Deputy Governor Dave Ramsden will not affect the market. In the afternoon, similar reports are expected on the US, which could prompt a further rise in dollar, provided that the figures are at a more or less acceptable level. If, for some reason, the indices start to decline, pound will rise sharply.

For long positions:

Buy pound when the quote reaches 1.1391 (green line on the chart) and take profit at the price of 1.1454 (thicker green line on the chart). Growth will occur if statistics in the UK exceed expectations. But remember that when buying, the MACD line should be above zero or is starting to rise from it.

Pound can also be bought at 1.1331, however, the MACD line should be in the oversold area as only by that will the market reverse to 1.1391 and 1.1454.

For short positions:

Sell pound when the quote reaches 1.1331 (red line on the chart) and take profit at the price of 1.1245. Pressure will return if data in the services sector indicate a slowdown or a decline. But take note that when selling, the MACD line should be below zero or is starting to move down from it.

Pound can also be sold at 1.1391, however, the MACD line should be in the overbought area, as only by that will the market reverse to 1.1331 and 1.1245.

This image is no longer relevant

What's on the chart:

The thin green line is the key level at which you can place long positions in the GBP/USD pair.

The thick green line is the target price, since the quote is unlikely to move above this level.

The thin red line is the level at which you can place short positions in the GBP/USD pair.

The thick red line is the target price, since the quote is unlikely to move below this level.

MACD line - when entering the market, it is important to be guided by the overbought and oversold zones.

Important: Novice traders need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decision based on the current market situation is an inherently losing strategy for an intraday trader.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Fundamental analysis
The Pound Rises Against All Odds The manufacturing PMI in May came in above expectations, but that was where all the positivity ended — 46.6 points, still below the expansion zone, and there's no talk
Kuvat Raharjo
19:09 2025-06-03 +02:00
1015
Forecast
USD/JPY: Simple Trading Tips for Beginner Traders for June 3rd (U.S. Session) Trade Review and Tips for Trading the Japanese Yen The price test at 142.88 in the first half of the day occurred when the MACD indicator had already moved significantly
Jakub Novak
19:06 2025-06-03 +02:00
1015
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders for June 3rd (U.S. Session)

Trade Review and Tips for Trading the Japanese Yen The price test at 142.88 in the first half of the day occurred when the MACD indicator had already moved significantly
Jakub Novak 19:06 2025-06-03 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders for June 3rd (U.S. Session)

Trade Review and Tips for Trading the British Pound The price test at 1.3526 in the first half of the day occurred when the MACD indicator had just started
Jakub Novak 19:03 2025-06-03 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders for June 3rd (U.S. Session)

Trade Review and Tips for Trading the Euro The price test at 1.1429 occurred when the MACD indicator had already moved significantly above the zero mark, limiting the pair's upward
Jakub Novak 18:56 2025-06-03 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on June 3. Review of Yesterday's Forex Trades

The test of the 143.05 level occurred when the MACD indicator moved significantly above the zero mark, limiting the pair's upside potential. For this reason
Jakub Novak 08:50 2025-06-03 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on June 3. Review of Yesterday's Forex Trades

The test of the 1.3555 level in the afternoon coincided with when the MACD indicator had already moved significantly upward from the zero mark, limiting the pair's upside potential
Jakub Novak 08:50 2025-06-03 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on June 3. Review of Yesterday's Forex Trades

The test at the 1.1438 level coincided with the MACD indicator beginning to move upward from the zero mark, confirming the correct entry point for buying the euro. However, after
Jakub Novak 08:50 2025-06-03 UTC+2

Intraday Strategies for Beginner Traders on June 3

The dollar continues to weaken — especially against the euro. Losses against the pound are somewhat smaller. Yesterday's weak ISM data triggered a wave of selling in the U.S. dollar
Miroslaw Bawulski 07:48 2025-06-03 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on June 2nd (U.S. Session)

Trade Review and Tips for Trading the Japanese Yen The price test at 143.07 occurred when the MACD indicator had already moved significantly below the zero line, which limited
Jakub Novak 18:57 2025-06-02 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on June 2 (U.S. Session)

Trade Review and Tips for Trading the British Pound The price test at 1.3528 occurred when the MACD indicator had already moved significantly above the zero line, which limited
Jakub Novak 18:55 2025-06-02 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on June 2nd (U.S. Session)

Trade Review and Tips for Trading the Euro The price test at 1.1408 occurred when the MACD indicator had already moved significantly above the zero line, limiting the pair's upward
Jakub Novak 18:52 2025-06-02 UTC+2

Top analytics

Relevance up to 02:00 2025-06-04 UTC--4
GBP/USD: Simple Trading Tips for Beginner Traders on June 3. Review of Yesterday's Forex Trades
08:50 2025-06-03
Forecast
Relevance up to 03:00 2025-06-04 UTC--4
EUR/USD. June 3rd. Waiting for EU Inflation Data
11:06 2025-06-03
Technical analysis
Relevance up to 20:00 2025-06-03 UTC--4
Trading Recommendations and Analysis for EUR/USD on June 3: Trump and ISM Hammer the Dollar
03:57 2025-06-03
Trading plan
Relevance up to 23:00 2025-06-03 UTC--4
Forecast for GBP/USD on June 3, 2025
05:17 2025-06-03
Technical analysis
Relevance up to 02:00 2025-06-04 UTC--4
Everything Is Still Working Against the U.S. Dollar
09:09 2025-06-03
Fundamental analysis
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.