empty
28.01.2025 02:09 PM
GBP/USD: Simple Trading Tips for Beginner Traders on January 28th (U.S. Session)

Analysis of Trades and GBP/USD Trading Tips

The test of the 1.2431 level occurred when the MACD indicator had moved significantly below the zero mark, which clearly limited the pair's downward potential. For this reason, I did not sell the pound. Shortly afterward, another test of 1.2431 occurred while the MACD was in the oversold zone and rebounding, which allowed Scenario #2 for buying to unfold. This led to a 15-point rise in the pair, after which buyers left the market.

Currently, markets are filled with anticipation, and investors are closely monitoring upcoming data releases. US Consumer Confidence, long considered a key indicator of consumer sentiment and willingness to spend, will be one of the focal points. A high confidence level could indicate an increase in consumer spending, which positively impacts the economy and supports the US dollar.

Another key indicator is the Change in Durable Goods Orders, which signals recovery in manufacturing activity and business optimism. Whether it will serve as a positive signal for economic growth depends on its trajectory and comparison with previous reports.

The Richmond Fed Manufacturing Index reflects the state of the manufacturing sector in the heart of the US. An increase in this index may suggest that industrial enterprises are gaining confidence, which would positively affect the broader economy.

Lastly, the House Price Index, also set to be released, serves as a measure of market stability. Factors affecting housing demand and supply continue to shape household loans and spending, making this indicator critical for analysis.

As for the intraday strategy, I will primarily focus on implementing Scenario #1 and Scenario #2.

This image is no longer relevant

Buy Signal

Scenario #1: I plan to buy the pound today when it reaches the 1.2453 level (green line on the chart), with a target of 1.2492 (thicker green line on the chart). At the 1.2492 level, I plan to exit the purchases and open short positions in the opposite direction, aiming for a 30–35 point movement downward. The pound's growth today may continue in line with the uptrend but will depend on weak US data.Important: Before buying, ensure the MACD indicator is above the zero mark and just starting to rise.

Scenario #2: I also plan to buy the pound today if there are two consecutive tests of the 1.2420 level, with the MACD in the oversold zone. This will limit the pair's downward potential and lead to a reversal upward. Expect growth to the opposite levels of 1.2453 and 1.2492.

Sell Signal

Scenario #1: I plan to sell the pound today after a breakout of the 1.2420 level (red line on the chart), which will lead to a quick decline in the pair. The key target for sellers will be 1.2379, where I will exit sales and immediately open long positions in the opposite direction, aiming for a 20–25 pip movement upward. Sellers are expected to take action if US statistics come in strong.Important: Before selling, ensure the MACD indicator is below the zero mark and just starting to fall.

Scenario #2: I also plan to sell the pound today if there are two consecutive tests of the 1.2453 level, with the MACD in the overbought zone. This will limit the pair's upward potential and lead to a reversal downward. Expect a decline to the opposite levels of 1.2420 and 1.2379.

This image is no longer relevant

Chart Key:

  • Thin Green Line: Entry price for buying the instrument.
  • Thick Green Line: Estimated price where Take Profit can be set, as further growth above this level is unlikely.
  • Thin Red Line: Entry price for selling the instrument.
  • Thick Red Line: Estimated price where Take Profit can be set, as further decline below this level is unlikely.
  • MACD Indicator: Pay attention to overbought and oversold zones when entering the market.

Important: Beginner Forex traders must be cautious when making market entry decisions. Before the release of critical fundamental reports, it is best to stay out of the market to avoid sharp price fluctuations. If you decide to trade during news releases, always set Stop Loss orders to minimize losses. Without Stop Losses, you can quickly lose your entire deposit, especially when trading large volumes without proper money management.

And remember: for successful trading, it is essential to have a clear trading plan, like the one provided above. Making spontaneous trading decisions based on the current market situation is 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
  • 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 February 28th (U.S. Session)

Trade Analysis and Recommendations for the Japanese Yen The test of 150.15 occurred when the MACD indicator had just started moving up from the zero mark, confirming the correct entry

Jakub Novak 14:36 2025-02-28 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on February 28th (U.S. Session)

Trade Analysis and Recommendations for the British Pound The test of 1.2592 occurred when the MACD indicator had just started moving up from the zero mark, confirming the correct entry

Jakub Novak 14:13 2025-02-28 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on February 28 (U.S. Session)

Trade Analysis and Recommendations for the Euro The test of 1.0407 occurred when the MACD indicator had already moved significantly above the zero mark, limiting the pair's upward potential

Jakub Novak 13:44 2025-02-28 UTC+2

Adjustment of Levels and Targets for the U.S. Session on February 28th

Due to cautious market sentiment following yesterday's comments from Donald Trump and a major sell-off in risk assets, there was little notable activity in terms of trades during the first

Miroslaw Bawulski 13:12 2025-02-28 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on February 28. Analysis of Yesterday's Forex Trades

The price test at 150.10 occurred when the MACD had already moved significantly above the zero mark, which limited the pair's upside potential, particularly in a bearish market. For this

Jakub Novak 08:08 2025-02-28 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on February 28. Analysis of Yesterday's Forex Trades

The price test at 1.2664 occurred when the MACD had just begun to move downward from the zero mark, confirming the optimal entry point for selling the British pound. Consequently

Jakub Novak 08:07 2025-02-28 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on February 28. Analysis of Yesterday's Forex Trades

The price test at 1.0469 occurred when the MACD indicator had just started moving downward from the zero mark. This confirmed the correct entry point for selling the euro

Jakub Novak 08:07 2025-02-28 UTC+2

Intraday Strategies for Beginner Traders on February 28

The euro and the pound both experienced a decline following Trump's announcement of trade tariffs impacting several countries, including Canada, Mexico, China, and the European Union. Investor concerns are heightened

Miroslaw Bawulski 07:29 2025-02-28 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on February 27th (U.S. Session)

The 149.19 level was tested when the MACD indicator had already moved significantly below the zero mark, which limited the pair's downward potential. For this reason, I did not sell

Jakub Novak 15:20 2025-02-27 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on February 27th (U.S. Session)

A price test at 1.2666 occurred when the MACD indicator had already moved significantly above the zero mark, limiting the pair's upward potential—especially after yesterday's decline. For this reason

Jakub Novak 15:17 2025-02-27 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.