empty
14.03.2025 09:20 AM
GBP/USD: Simple Trading Tips for Beginner Traders on March 14. Review of Yesterday's Forex Trades

Analysis of Trades and Trading Tips for the British Pound

The first test of the 1.2941 price level occurred when the MACD indicator had already moved significantly downward from the zero mark, limiting the pair's downside potential. For this reason, I chose not to sell the pound. The second test of 1.2941, which took place shortly after, coincided with an oversold MACD signal, allowing Scenario #2 for buying to unfold. However, the pair did not experience significant growth.

Yesterday's U.S. inflation data did not lead to a sharp strengthening of the dollar, as the numbers came in much lower than economists had forecasted. The decline in the producer price index enables the Federal Reserve to act more cautiously, reducing demand for the dollar and supporting risk assets. Nevertheless, despite these positive signals, uncertainty persists regarding the Fed's next steps.

Today, important economic data from the UK is expected, and investors will closely monitor the macroeconomic data to assess the state of the British economy. Positive data on GDP and industrial production could signal a recovery from recent economic challenges, strengthening confidence in the pound. Conversely, weak data could put pressure on the currency, potentially leading investors to sell off their pound holdings.

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 today if the entry point reaches the 1.2955 level (green line on the chart), targeting a rise to 1.2978 (thicker green line on the chart). Around 1.2978, I will exit my buy trades and open sell trades in the opposite direction, expecting a movement of 30-35 pips downward. The pound's growth can only be expected to continue if strong economic data supports the upward trend. Important! Before buying, ensure that the MACD indicator is above the zero mark and starting to rise.

Scenario #2: I also plan to buy the pound if the price tests 1.2934 twice in a row while the MACD indicator is in the oversold zone. This will limit the pair's downside potential and trigger a market reversal to the upside. Growth toward the 1.2955 and 1.2978 levels can be expected.

Sell Signal

Scenario #1: I plan to sell the pound after breaking below 1.2934 (red line on the chart), which could trigger a rapid decline. The key target for sellers will be 1.2910, where I intend to exit my sell trades and immediately open buy trades in the opposite direction, expecting a movement of 20-25 pips upward. Selling the pound is preferable at the highest possible levels. Important! Before selling, ensure that the MACD indicator is below the zero mark and starting to decline.

Scenario #2: I also plan to sell the pound if the price tests 1.2955 twice in a row while the MACD indicator is in the overbought zone. This will limit the pair's upward potential and trigger a market reversal downward. A decline toward the 1.2934 and 1.2910 levels can be expected.

This image is no longer relevant

What's on the Chart:

  • The thin green line represents the entry price where the trading instrument can be bought.
  • The thick green line indicates the expected price level where a Take Profit order can be placed, or profits can be manually secured, as further price growth above this level is unlikely.
  • The thin red line represents the entry price where the trading instrument can be sold.
  • The thick red line indicates the expected price level where a Take Profit order can be placed, or profits can be manually secured, as further price decline below this level is unlikely.
  • The MACD indicator should be used to assess overbought and oversold zones when entering the market.

Important Notes:

  • Beginner Forex traders should exercise extreme caution when making market entry decisions. It is advisable to stay out of the market before the release of important fundamental reports to avoid exposure to sharp price fluctuations. If you choose to trade during news releases, always use stop-loss orders to minimize potential losses. Trading without stop-loss orders can quickly wipe out your entire deposit, especially if you neglect money management principles and trade with high volumes.
  • Remember, successful trading requires a well-defined trading plan, similar to the one outlined above. Making impulsive trading decisions based on the current market situation is a losing strategy for intraday traders.
Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Pavel Vlasov
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 on July 25. Analysis of Yesterday's Forex Trades

The test of the 146.75 level coincided with the moment when the MACD indicator had just started to move upward from the zero line, confirming a valid entry point

Jakub Novak 08:52 2025-07-25 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on July 25. Analysis of Yesterday's Forex Trades

The test of the 1.3529 level occurred when the MACD indicator had just started to move down from the zero line, confirming a valid entry point for selling the pound

Jakub Novak 08:52 2025-07-25 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on July 25. Analysis of Yesterday's Forex Trades

The test of the 1.1757 level occurred at the moment when the MACD indicator had just started to rise from the zero line, confirming a valid entry point for buying

Jakub Novak 08:52 2025-07-25 UTC+2

Intraday Strategies for Beginner Traders on July 25

The Euro Holds Its Ground, While the Pound Resumes Decline Following Weak UK Data Yesterday, European Central Bank President Christine Lagarde stated that the ECB had taken a wait-and-see approach

Miroslaw Bawulski 08:23 2025-07-25 UTC+2

Oil: Will the Market Hold Support or Are Broken Trends a Trap for the Bulls?

Since the start of the week, the oil market has remained in a state of tense equilibrium. Brent crude, having lost its May upward trend, managed to recover only partially

Anna Zotova 02:41 2025-07-25 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders – July 24th (U.S. Session)

Trade Analysis and Tips for Trading the Japanese Yen The test of the 146.38 level occurred at a time when the MACD indicator had already moved far above the zero

Jakub Novak 14:06 2025-07-24 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders – July 24th (U.S. Session)

Trade Analysis and Pound Sterling Trading Tips The test of the 1.3555 level coincided with the MACD indicator having moved well below the zero line, which limited the pair's downward

Jakub Novak 14:04 2025-07-24 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders – July 24th (U.S. Session)

Trade Analysis and Euro Trading Tips The test of the 1.1756 level coincided with the MACD indicator moving well below the zero line, which limited the pair's downward potential. Eurozone

Jakub Novak 14:02 2025-07-24 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on July 24. Analysis of Yesterday's Forex Trades

The test of the 146.56 level occurred when the MACD indicator had already moved significantly above the zero line, which limited the pair's upward potential—especially in the context

Jakub Novak 09:05 2025-07-24 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on July 24. Analysis of Yesterday's Forex Trades

The test of the 1.3551 level occurred when the MACD indicator had just started moving up from the zero line, confirming the validity of the entry point for a long

Jakub Novak 09:04 2025-07-24 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

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.