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02.04.202606:40 Forex Analysis & Reviews: How To Trade The GBP/USD Currency Pair On April 2? Simple Tips And Analysis For Beginners

Relevancia 00:00 2026-04-03 UTC--4

Analysis Of Wednesday's Trades:

1H Chart Of The GBP/USD Pair

Exchange Rates 02.04.2026 analysis

The GBP/USD pair also traded higher throughout Wednesday, not driven by macroeconomic conditions or fundamental events. The recent upward movement in the pair is exclusively a response to the market's positive expectations for the imminent end of the war in Iran, spurred by Donald Trump and Masoud Pezeshkian. There are no real signs of de-escalation in the conflict in the Middle East, and this remains unchanged. Yesterday, three reports were published in the US, each of which supported the US dollar. Retail sales grew more than expected, the number of new private sector jobs in the ADP exceeded forecasts by 20,000, and the ISM Manufacturing PMI came in at 52.7 points against forecasts of 52-52.5. Thus, the dollar could have strengthened even yesterday if traders had paid any attention to the macroeconomic backdrop. However, it rose last night when Donald Trump gave another speech, which was even noted in event calendars. It is interesting to wonder why, considering that the American president gives interviews about five times a day. Nevertheless, Trump did not provide any signals regarding the imminent end of the war and an agreement with Iran. The market responded by buying dollars.

5M Chart Of The GBP/USD Pair

Exchange Rates 02.04.2026 analysis

On the 5-minute timeframe on Wednesday, two buy signals were formed during the European trading session in the area of 1.3259-1.3267. A few hours later, the nearest target was hit – the area of 1.3319-1.3331. In this area, several sell signals were generated, and last night the pair collapsed, racing toward the 1.3203-1.3212 area. As a result, both trades were profitable.

How To Trade On Thursday:

On the hourly timeframe, the GBP/USD pair's latest upward trend has been broken. There are no global reasons for a medium-term rise in the dollar, so we expect the revival of the global upward trend from 2025 in 2026. However, for this to happen, geopolitical tensions around the world need to start easing, as the dollar is currently in demand solely based on geopolitics.

On Thursday, beginner traders may open new short positions if the price consolidates below the 1.3203-1.3212 range, targeting 1.3096-1.3107. Consolidation above the area of 1.3259-1.3267 or a bounce from the area of 1.3203-1.3212 will allow for long positions.

On the 5-minute timeframe, trading levels to consider include: 1.3096-1.3107, 1.3203-1.3212, 1.3259-1.3267, 1.3319-1.3331, 1.3403-1.3407, 1.3437-1.3446, 1.3484-1.3489, 1.3529-1.3543, 1.3643-1.3652, 1.3695, and 1.3741-1.3751. There are no major events scheduled in the UK today, while in the US, only secondary unemployment claims will be released. The market will once again trade solely based on geopolitical news.

Key Principles of the Trading System:

  1. The strength of the signal is determined by the time it took to form the signal (bounce or level breakthrough). The shorter the time, the stronger the signal.
  2. If two or more trades were opened around any level based on false signals, all subsequent signals from that level should be ignored.
  3. In a range, any pair can generate a lot of false signals or may not generate them at all. Technical levels may be ignored.
  4. On the hourly timeframe, it is advisable to trade signals from the MACD indicator only when there is good volatility and a trend that is confirmed by a trendline or trend channel.
  5. If two levels are located too close together (5-20 pips apart), they should be considered a support or resistance area.
  6. After moving 15 pips in the correct direction, a Stop Loss should be set to breakeven.

What to Look for on the Charts:

Price levels of support and resistance are levels that serve as targets when opening buys or sells. Take Profit levels can be placed around them.

Red lines represent channels or trend lines that show the current trend and indicate the direction in which it is preferable to trade now.

The MACD indicator (14,22,3) – the histogram and the signal line – is a supporting indicator that can also be used as a source of signals.

Important speeches and reports (always included in the news calendar) can significantly affect the movement of the currency pair. Therefore, during their release, trading should be done with utmost caution, or traders should exit the market to avoid sharp price reversals against the previous movement.

Beginning traders in the forex market should remember that not every trade can be profitable. Developing a clear strategy and effective money management are the keys to long-term trading success.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Paolo Greco,
Analytical expert of InstaSpot
© 2007-2026
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