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19.05.202608:37 Forex Analysis & Reviews: GBPUSD: Simple Trading Tips for Beginner Traders on May 19. Review of Yesterday's Trades in Forex

Analysis of Trades and Tips for Trading the British Pound

The price test at 1.3373 coincided with the MACD indicator just beginning to move upward from the zero mark, confirming the correct entry point for buying pounds. As a result, the pair rose to the target level of 1.3411.

The US dollar declined, while the pound rose after President Donald Trump announced the postponement of the planned military operation against Iran. This decision was perceived by the markets as a reduction in geopolitical tension in one of the key regions of the global economy. The drop in the dollar is likely related to market participants' expectations that a weakened conflict may lead to a redistribution of investment flows.

Today promises to be equally eventful. The first half of the day will undoubtedly be closely watched by traders specializing in the British currency. The primary focus will be on publishing a block of important indicators related to the UK labor market. In particular, data on the unemployment rate is expected. A stable or declining rate will indicate the health of the economy and is likely to support the pound. Conversely, an increase in unemployment may raise concerns about slowing economic growth and trigger a sell-off of the British currency. No less important will be the change in average earnings. A sharp increase in income may spur inflationary pressure, which in turn raises the likelihood of interest rate increases by the Bank of England, playing in favor of the pound.

Data on the change in the number of unemployment benefit claims will also be presented. This indicator is a leading indicator of the labor market. An increase in claims, even with the current unemployment level unchanged, could signal upcoming problems.

As for the intraday strategy, I will rely more on implementing scenarios No. 1 and No. 2.

Buying Scenarios

Scenario No. 1: I plan to buy pounds today when the entry point reaches around 1.3418 (the green line on the chart), aiming to rise to level 1.3454 (the thicker green line on the chart). At level 1.3454, I plan to exit the long positions and open short positions in the opposite direction (anticipating a 30-35-pip move in the opposite direction from the level). Strong pound growth can only be expected with good data. Important! Before buying, ensure the MACD indicator is above the zero mark and just beginning to rise from it.

Scenario No. 2: I also plan to buy pounds today in the case of two consecutive tests of the price 1.3397 when the MACD indicator is in the oversold zone. This will limit the pair's downward potential and lead to an upward market reversal. One can expect growth towards the opposite levels of 1.3418 and 1.3454.

Selling Scenarios

Scenario No. 1: I plan to sell pounds today after updating the level to 1.3397 (the red line on the chart), which will trigger a rapid decline in the pair. The key target for sellers will be level 1.3365, where I plan to exit the shorts and also open longs immediately in the opposite direction (anticipating a movement of 20-25 pips in the opposite direction from the level). Pressure on the pound may return at any moment. Important! Before selling, ensure the MACD indicator is below the zero mark and just beginning its decline from it.

Scenario No. 2: I also plan to sell pounds today if two consecutive tests of the price 1.3418 occur while the MACD indicator is in the overbought zone. This will limit the pair's upward potential and lead to a market reversal downward. One can expect a decline to the opposite levels of 1.3397 and 1.3365.

What is on the Chart:

• The thin green line – entry price at which the trading instrument can be bought;
• The thick green line – approximate price where take profit can be set or to realize profit, as further growth above this level is unlikely;
• The thin red line – entry price at which the trading instrument can be sold;
• The thick red line – approximate price where take profit can be set or to realize profit, as further decline below this level is unlikely;
• MACD indicator. When entering the market, it is important to be guided by overbought and oversold zones.

Important: Beginner traders in the Forex market need to make entry decisions very cautiously. It is best to stay out of the market before important fundamental reports to avoid sharp price fluctuations. If you decide to trade during news releases, always set stop orders to minimize losses. Without placing stop orders, you can quickly lose your entire deposit, especially if you do not use money management and trade in large volumes.

And remember, for successful trading, it is essential to have a clear trading plan, as outlined above. Making impulsive trading decisions based on the current market situation is fundamentally a losing strategy for an intraday trader.

*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。

Jakub Novak,
Analytical expert of InstaSpot
© 2007-2026

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