empty
23.06.2025 06:54 AM
How to Trade the GBP/USD Pair on June 23? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades

1H Chart of GBP/USD

This image is no longer relevant

On Friday, the GBP/USD pair traded rather weakly and uncertainly. We cannot definitively say that the downward trend has ended, but we also cannot say it has not. On the 4-hour time frame, a sideways range is still clearly visible, while the daily time frame shows a strong upward trend. Thus, we lean toward the view that the British currency is currently in a phase of sideways movement, with all the resulting implications. A significant drop in the pound sterling (i.e., a rise in the US dollar) is still unlikely, as no substantial factors support dollar growth. On Friday, UK data disappointed — the retail sales report for May turned out significantly weaker than expected. This is likely the reason the pound failed to rise during the day.

5M Chart of GBP/USD

This image is no longer relevant

No trading signals were formed on Friday in the 5-minute time frame. The total daily volatility was 71 pips, which is relatively low, and there was no trend movement. Therefore, we consider the absence of signals to be a positive factor. For comparison, three signals were generated on the EUR/USD pair, and none of them resulted in profit for traders.

Trading Strategy for Monday:

In the hourly time frame, the GBP/USD pair focuses on Donald Trump and remains quite skeptical of his policies. As a result, the market either continues to sell the dollar or waits for new negative developments from across the ocean to start selling the dollar again. This will likely continue until the market sees real signs of the trade war ending and Trump stops making decisions he lacks the authority to make — decisions that leave market participants stunned. The dollar may show some strength from time to time, as even it cannot fall every day. But such occurrences remain extremely rare for now.

On Monday, the GBP/USD pair may resume its upward movement as the downward trend appears to be over. At the same time, the macroeconomic background will play a significant role during the day.

On the 5-minute time frame, trading can now be done based on the following levels: 1.3043, 1.3102–1.3107, 1.3203–1.3211, 1.3259, 1.3329–1.3331, 1.3413–1.3421, 1.3518–1.3535, 1.3580–1.3592, 1.3643–1.3652, 1.3695, and 1.3740. On Monday, service and manufacturing PMIs will be published in both the United Kingdom and the United States, and these reports may influence the pair's movement throughout the day.

Core Trading System Rules:

  1. Signal Strength: The shorter the time it takes for a signal to form (a rebound or breakout), the stronger the signal.
  2. False Signals: If two or more trades near a level result in false signals, subsequent signals from that level should be ignored.
  3. Flat Markets: In flat conditions, pairs may generate many false signals or none at all. It's better to stop trading at the first signs of a flat market.
  4. Trading Hours: Open trades between the start of the European session and the middle of the US session, then manually close all trades.
  5. MACD Signals: On the hourly timeframe, trade MACD signals only during periods of good volatility and a clear trend confirmed by trendlines or trend channels.
  6. Close Levels: If two levels are too close (5–20 pips apart), treat them as a support or resistance zone.
  7. Stop Loss: Set a Stop Loss to breakeven after the price moves 20 pips in the desired direction.

Key Chart Elements:

Support and Resistance Levels: These are target levels for opening or closing positions and can also serve as points for placing Take Profit orders.

Red Lines: Channels or trendlines indicating the current trend and the preferred direction for trading.

MACD Indicator (14,22,3): A histogram and signal line used as a supplementary source of trading signals.

Important Events and Reports: Found in the economic calendar, these can heavily influence price movements. Exercise caution or exit the market during their release to avoid sharp reversals.

Forex trading beginners should remember that not every trade will be profitable. Developing a clear strategy and practicing proper money management are essential for long-term trading success.

Paolo Greco,
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

How to Trade the GBP/USD Currency Pair on July 9th: Simple Tips and Trade Analysis for Beginners

On Tuesday, the GBP/USD pair continued its moderate downward movement, which is clearly of a technical and corrective nature. On both Monday and Tuesday, there were no significant macroeconomic events

Paolo Greco 08:46 2025-07-09 UTC+2

How to Trade the EUR/USD Currency Pair on July 9th? Simple Tips and Trade Breakdown for Beginners

On Tuesday, the EUR/USD currency pair continued its mild downward movement in line with the prevailing trend. After a fairly strong upward move, the market began a correction. The nature

Paolo Greco 08:28 2025-07-09 UTC+2

Trading Recommendations and Trade Review for GBP/USD on July 9th

The GBP/USD pair extended last week's decline throughout Tuesday. As a reminder, the U.S. dollar had multiple factors supporting its potential strength last week, but it appreciated on only

Paolo Greco 07:35 2025-07-09 UTC+2

Trading Recommendations and Trade Review for EUR/USD on July 9th

The EUR/USD pair continued to decline on Tuesday, even though there was no fundamental justification for the dollar's growth. It was reported that Donald Trump decided to raise tariffs

Paolo Greco 07:09 2025-07-09 UTC+2

How to Trade the GBP/USD Currency Pair on July 8TH? Simple Tips and Trade Analysis for Beginners

Monday Trade Analysis: GBP/USD 1H chart On Monday, the GBP/USD pair was clearly trading sideways. On the hourly timeframe, it consolidated below the ascending trendline, but in our view, this

Paolo Greco 10:45 2025-07-08 UTC+2

How to Trade the EUR/USD Currency Pair on July 8th: Simple Tips and Trade Review for Beginners

Monday Trade Review: EUR/USD, 1H Chart On Monday, the EUR/USD pair traded with a downward bias, and the U.S. dollar posted a fairly strong gain. As we've mentioned before, even

Paolo Greco 10:09 2025-07-08 UTC+2

Trading Recommendations and Trade Analysis for GBP/USD on July 8th

The GBP/USD currency pair also declined on Monday. However, on its uncertain downward path, the pair encountered the Senkou Span B line of the Ichimoku indicator for the third time—and

Paolo Greco 07:42 2025-07-08 UTC+2

Trading Recommendations and Trade Analysis for EUR/USD on July 8th

The EUR/USD pair traded with a downward bias on Monday, even though there were no fundamental reasons supporting the dollar's strength. However, the dollar's rise was weak, which is especially

Paolo Greco 06:51 2025-07-08 UTC+2

GBP/USD: Trading Plan for the U.S. Session on July 7th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.3602 level and planned to use it to determine entry points into the market. Let's look at the 5-minute chart and analyze what

Miroslaw Bawulski 13:21 2025-07-07 UTC+2

EUR/USD: Trading Plan for the U.S. Session on July 7th (Review of the Morning Trades)

In my morning forecast, I highlighted the 1.1749 level and planned to base market entry decisions around it. Let's look at the 5-minute chart and break down what happened

Miroslaw Bawulski 13:20 2025-07-07 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.