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
29.05.2025 08:01 PM
GBP/USD: Simple Trading Tips for Beginner Traders – U.S. Session, May 29th
Open trading account Open demo account

Trade Analysis and Guidance for Trading the British Pound

The price test at 1.3455 during the first half of the day occurred just as the MACD indicator began to rise from the zero mark, confirming a valid market entry point. As a result, the pair rose by more than 25 points.

Today, the U.S. GDP figures for the first quarter will be released. Investors will scrutinize these numbers to assess the sustainability of economic growth and its impact on the Federal Reserve's monetary policy outlook. Equally important is the report on initial jobless claims, a key labor market indicator that reflects how effectively the economy is managing inflation and rate hike pressures.

Additionally, FOMC members Adriana D. Kugler and Austan D. Goolsbee will speak. Their comments on the current economic outlook, inflation trends, and future monetary policy will be closely watched for clues about the Fed's next moves. Investors will pay special attention to how FOMC members assess the balance between fighting inflation and sustaining economic growth.

Any signals of the Fed's readiness to ease monetary policy further could weaken the U.S. dollar.

As for intraday strategy, I will primarily rely on Scenarios #1 and #2.

This image is no longer relevant

Buy Signal

Scenario #1: I plan to buy the pound at the entry point of 1.3491 (green line on the chart), targeting a rise to 1.3522 (thicker green line). At 1.3522, I will exit long positions and open shorts in the opposite direction, expecting a 30–35 point pullback. GBP strength is likely if U.S. data disappoints. Important: Before buying, confirm that the MACD is above the zero line and just starting to rise from it.

Scenario #2: I also plan to buy the pound if there are two consecutive tests of the 1.3461 level, while the MACD is in oversold territory. This would limit downward potential and trigger a reversal upward. Expect a rise toward 1.3491 and 1.3522.

Sell Signal

Scenario #1: I plan to sell the pound after a break below 1.3461 (red line on the chart), which should lead to a sharp drop. The main target for sellers will be 1.3416, where I will exit shorts and consider reversing with a 20–25 point rebound. Sellers are unlikely to dominate today. Important: Before selling, confirm that the MACD is below the zero line and just beginning to fall from it.

Scenario #2: I will also consider selling the pound if there are two consecutive tests of the 1.3491 level while MACD is in overbought territory. This setup would cap the upside and initiate a downward reversal. Expect a drop toward 1.3461 and 1.3416.

This image is no longer relevant

Chart Key:

  • Thin green line – Entry level for long positions
  • Thick green line – Suggested Take Profit level; further growth above this level is unlikely
  • Thin red line – Entry level for short positions
  • Thick red line – Suggested Take Profit level; further decline below this level is unlikely
  • MACD Indicator – Use overbought/oversold areas to guide entries

Important Note for Beginner Traders:

New Forex traders must make market entry decisions with extreme caution. It is best to avoid trading during the release of major fundamental reports to prevent exposure to volatile price swings. If you decide to trade during news events, always use stop-loss orders to minimize losses. Without stop-losses, you could lose your entire deposit quickly—especially if you lack proper money management and trade large volumes.

Remember: successful trading requires a clear and well-defined trading plan, like the one outlined above. Spontaneous trading decisions based on the current market situation are usually a losing strategy for intraday traders.

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
Wave analysis
EUR/USD Analysis on June 3, 2025 The wave pattern on the 4-hour chart for EUR/USD has transformed into an upward structure and remains such. I believe there's no doubt that this transformation occurred exclusively
Chin Zhao
19:38 2025-06-03 +02:00
1210
Wave analysis
GBP/USD Analysis on June 3, 2025 The wave structure for GBP/USD continues to indicate the development of an upward impulsive wave pattern. The wave pattern is almost identical to that of the EUR/USD pair. Until February
Chin Zhao
19:32 2025-06-03 +02:00
1060
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 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 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 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.