empty
 
 
02.04.2024 09:29 AM
Analysis and trading tips for GBP/USD on April 2

Analysis of transactions and tips for trading GBP/USD

The test of 1.2605 took place at a time when the MACD line moved downward from zero. This provoked a sell signal, which led to a price decrease of over 30 pips. Meanwhile, purchases on the rebound from 1.2575 led to losses, as pound continued to fall.

Strong data from the US led to a massive sell-off of pound, especially after the Bank of England's new policy left no hope for the growth of risk assets in the medium term. Today, PMI data for the UK's manufacturing sector will come out, and if the data disappoint, pound will likely continue its decline. The reports on the M4 money supply aggregate and approved mortgage applications in the region will also play a role in determining the direction of the pair.

This image is no longer relevant

For long positions:

Buy when pound hits 1.2575 (green line on the chart) and take profit at the price of 1.2620 (thicker green line on the chart). Growth could occur, but only after strong data on manufacturing activity.

When buying, ensure that the MACD line lies above zero or just starts to rise from it. Pound can also be bought after two consecutive price tests of 1.2538, but the MACD line should be in the oversold area as only by that will the market reverse to 1.2575 and 1.2620.

For short positions:

Sell when pound reaches 1.2538 (red line on the chart) and take profit at the price of 1.2493. Pressure will return in the case of a breakthrough of the daily low.

When selling, ensure that the MACD line lies below zero or drops down from it. Pound can also be sold after two consecutive price tests of 1.2575, but the MACD line should be in the overbought area as only by that will the market reverse to 1.2538 and 1.2493.

This image is no longer relevant

What's on the chart:

Thin green line - entry price at which you can buy GBP/USD

Thick green line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further growth above this level is unlikely.

Thin red line - entry price at which you can sell GBP/USD

Thick red line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further decline below this level is unlikely.

MACD line- it is important to be guided by overbought and oversold areas when entering the market

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,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2024
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.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $1000 अधिक!
    में अप्रैल हम आकर्षित करते हैं $1000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback