empty
17.03.2025 06:27 PM
GBP/USD: Simple Trading Tips for Beginner Traders – March 17th (U.S. Session)

Trade Analysis and Recommendations for the British Pound

The test of the 1.2941 level occurred when the MACD indicator had just started moving upward from the zero mark, confirming a valid entry point. As a result, the pair gained 30 points, reaching the target level of 1.2970.

The pound continued its rally throughout last week despite the lack of economic data from the U.K.. Traders appear to ignore domestic economic issues, but the question remains how long this trend can persist.

Now, it's best to shift focus to U.S. data. Strong retail sales figures could have undesirable consequences for the British pound. An increase in sales may fuel higher inflation, prompting the Federal Reserve to maintain a cautious stance on future rate cuts.

Although the Empire Manufacturing Index has a lower significance, it provides insights into the manufacturing sector in New York State. A reading above zero indicates growth, while a negative reading suggests contraction. Additionally, the NAHB Housing Market Index reflects builder confidence and acts as a leading indicator for the housing market.

For intraday trading, I will focus on Scenario #1 and Scenario #2.

This image is no longer relevant

Buy Signal

Scenario #1: Buy GBP/USD at 1.2989 (green line on the chart), targeting a rise to 1.3036. At 1.3036, I plan to exit long positions and open short trades, anticipating a 30-35 point pullback. The trend remains bullish, making further growth likely.

Important! Before buying, confirm that the MACD indicator is above the zero mark and beginning to rise.

Scenario #2: I will also consider buying GBP/USD if the price tests 1.2948 twice, with the MACD indicator in the oversold zone. This will limit the pair's downward potential and lead to a reversal to the upside, with expected targets at 1.2989 and 1.3036.

Sell Signal

Scenario #1: Sell GBP/USD after it breaks below 1.2948 (red line on the chart), which could trigger a quick decline. The target is 1.2898, where I will exit short positions and open long trades for a 20-25 point rebound. Bears will likely step in if U.S. data strengthens the dollar.

Important! Before selling, confirm that the MACD indicator is below the zero mark and beginning to decline.

Scenario #2: I will also consider selling GBP/USD if the price tests 1.2989 twice, with the MACD indicator in the overbought zone. This will limit the pair's upward potential and lead to a market reversal downward, with expected targets at 1.2948 and 1.2898.

This image is no longer relevant

Chart Key:

  • Thin green line – Entry price for buying.
  • Thick green line – Expected target for Take Profit or manual profit-taking, as further upside beyond this level is unlikely.
  • Thin red line – Entry price for selling.
  • Thick red line – Expected target for Take Profit or manual profit-taking, as further downside beyond this level is unlikely.
  • MACD Indicator – Always consider overbought and oversold conditions when entering the market.

Important Notes for Beginner Forex Traders:

Making trading decisions requires extreme caution. Avoid entering the market before key fundamental reports, as sudden price swings can lead to significant losses.

If you choose to trade during news releases, always use stop-loss orders to limit potential losses. Trading without stop-losses can quickly wipe out your entire deposit, especially if you trade large volumes without proper risk management.

For successful trading, you need a clear and structured trading plan, similar to the one outlined above. Making impulsive decisions based on short-term price movements 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 March 18th (U.S. Session)

The test of the 149.76 price level occurred when the MACD indicator had just started moving up from the zero mark, confirming a valid buy entry for the dollar

Jakub Novak 18:40 2025-03-18 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 18th (U.S. Session)

The test of the 1.2983 price level occurred when the MACD indicator had already moved significantly upward from the zero mark, limiting the pair's upward potential. For this reason

Jakub Novak 18:36 2025-03-18 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 18th (U.S. Session)

The test of the 1.0924 price level occurred when the MACD indicator had already moved significantly upward from the zero mark, limiting the pair's upward potential. For this reason

Jakub Novak 18:32 2025-03-18 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 18. Review of Yesterday's Forex Trades

The price test at 148.64 came when the MACD indicator started moving upward from the zero mark, confirming the correct entry point to buy the dollar. As a result

Jakub Novak 08:00 2025-03-18 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 18. Review of Yesterday's Forex Trades

The price test at 1.2989 came when the MACD indicator had already moved significantly from the zero mark, limiting the pair's upward potential. For this reason

Jakub Novak 08:00 2025-03-18 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 18. Review of Yesterday's Forex Trades

The price test at 1.0893 occurred when the MACD indicator began moving down from the zero mark, confirming a valid entry point for selling the euro. However, losses were recorded

Jakub Novak 08:00 2025-03-18 UTC+2

Intraday Strategies for Beginner Traders on March 18

The euro and the pound continue to rise despite all the desperate attempts by sellers of risk assets to achieve at least some reasonable correction at the beginning

Miroslaw Bawulski 06:52 2025-03-18 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders – March 17th (U.S. Session)

The test of the 148.68 level occurred when the MACD indicator had already moved significantly downward from the zero mark, limiting the pair's downward potential. For this reason

Jakub Novak 17:32 2025-03-17 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders – March 17th (U.S. Session)

The test of the 1.0873 level occurred when the MACD indicator had just started moving downward from the zero mark, confirming a valid entry point for selling. However, the expected

Jakub Novak 17:23 2025-03-17 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.