empty
30.03.2023 09:48 AM
Analysis and trading tips for GBP/USD on March 30

Analysis of transactions and tips for trading GBP/USD

The pair tested 1.2328 at a time when the MACD line was just starting to move above zero, which was a good signal to buy. It resulted in a price increase of around 30 pips. However, pressure quickly returned in the pair.

This image is no longer relevant

The reports on the UK M4 money supply, approved mortgage applications and volume of net loans to individuals had no effect on pound yesterday. Even the minutes of the Bank of England's policy meeting was not enough for the currency to consolidate above monthly highs.

This put pressure back on GBP/USD, which may lead to a decline today, especially since there are no UK statistics scheduled to be released this morning. In the afternoon, there will be weekly jobless claims and GDP change for Q4 2022 in the US. Equally important will be speeches from FOMC member Neel Kashkari, as well as Treasury Secretary Janet Yellen, who may reveal details of a new program to support US banks. This will put pressure on dollar and return risk appetite.

For long positions:

Buy pound when the quote reaches 1.2328 (green line on the chart) and take profit at the price of 1.2358 (thicker green line on the chart). Growth is possible, but it will only be after a consolidation above 1.2330

When buying, make sure that the MACD line is above zero or is starting to rise from it. Pound can also be bought at 1.2307, but the MACD line should be in the oversold area as only by that will the market reverse to 1.2328 and 1.2358.

For short positions:

Sell pound when the quote reaches 1.2307 (red line on the chart) and take profit at the price of 1.2272. Pressure may intensify at any moment.

When selling, make sure that the MACD line is below zero or is starting to move down from it. Pound can also be sold at 1.2328, but the MACD line should be in the overbought area as only by that will the market reverse to 1.2307 and 1.2272.

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
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Why $65 for Brent Is Just the Calm Before the Storm

Brent is struggling to stay afloat, even as looming strikes on Iran and new turns in U.S. sanctions diplomacy come into view. Meanwhile, natural gas is currently in a bind

Anna Zotova 01:31 2025-05-15 UTC+2

Oil Lacks Confidence to Sustain a Rally

The oil market has come back to life: since the beginning of last week, Brent has gained more than 12%, and this momentum is driven not just by noise

Anna Zotova 00:21 2025-05-14 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on May 9th (U.S. Session)

Trade Review and Guidance on Trading the Japanese Yen The test of the 145.31 level occurred when the MACD indicator had already moved significantly below the zero mark, which limited

Jakub Novak 19:13 2025-05-09 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on May 9th (U.S. Session)

Trade Analysis and Tips for the British Pound The test of the 1.3255 level during the first half of the day occurred when the MACD indicator had already moved significantly

Jakub Novak 19:10 2025-05-09 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on May 9th (U.S. Session)

Trade Analysis and Tips for the Euro The test of the 1.1244 price level occurred when the MACD indicator had already risen significantly above the zero mark, which limited

Jakub Novak 19:08 2025-05-09 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on May 9. Review of Yesterday's Forex Trades

The test of the 144.86 level occurred when the MACD indicator had just started to move upward from the zero line, confirming a valid entry point for buying the dollar

Jakub Novak 09:44 2025-05-09 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on May 9. Review of Yesterday's Forex Trades

The test of the 1.3342 level in the second half of the day occurred when the MACD indicator had already significantly moved above the zero line, which limited the pair's

Jakub Novak 09:44 2025-05-09 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on May 9. Review of Yesterday's Forex Trades

The price test at 1.1312 in the second half of the day coincided with the MACD indicator having already moved significantly above the zero line, which limited the pair's upward

Jakub Novak 09:44 2025-05-09 UTC+2

Intraday Strategies for Beginner Traders on May 9

The euro and the pound resumed their decline immediately after confidence in the U.S. reaching trade agreements with key partners increased in the market. Following signing a trade agreement with

Miroslaw Bawulski 07:53 2025-05-09 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders – May 8th (U.S. Session)

Trade Review and Tips for Trading the Japanese Yen The price test at 143.75 in the first half of the day coincided with the MACD indicator just starting to rise

Jakub Novak 19:30 2025-05-08 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.