empty
24.02.2025 07:02 AM
How to Trade the GBP/USD Pair on February 24? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades

1H Chart of GBP/USD

This image is no longer relevant

The GBP/USD pair experienced a slight decline on Friday, reflecting a mixed macroeconomic backdrop for both the pound and the euro. The UK manufacturing PMI for February fell sharply to 46.4 points, while the services PMI rose to 51.1 points. This produced one positive report and one negative report. In the US, business activity indices also showed mixed outcomes, and the University of Michigan's consumer sentiment index came in lower than anticipated. Given these conditions, it would not have been surprising if the dollar had weakened on Friday. However, it actually strengthened instead. The day prior, on Thursday, the pair had seen significant gains despite a lack of macroeconomic drivers. This highlights to beginner traders that the current movements of the pair are not strongly influenced by macroeconomic or fundamental factors. The upward correction on the daily timeframe continues, which underscores this situation.

5M Chart of GBP/USD

This image is no longer relevant

On the 5-minute chart, a solid trading signal emerged near the 1.2680-1.2685 area on Friday. Although there was a slight margin of error in its formation, this shouldn't have deterred the opening of a sell trade. The price continued to decline throughout the day, allowing for the closure of the short position by the evening, yielding a profit of approximately 30 pips.

Trading Strategy for Monday:

In the hourly timeframe, GBP/USD may start a short-term downtrend, but all movements in recent weeks are part of a correction in the daily timeframe. In the medium term, we still expect the pound to decline toward 1.1800, which is the only logical outcome. Therefore, it is just a matter of waiting for the upward correction on the daily timeframe to end.

On Monday, GBP/USD may start a new downward move, as the pound has risen significantly over the past few weeks. However, movements are currently erratic and not related to macroeconomic factors. The short-term upward trend remains in place for now.

On the 5-minute chart, trading can be based on the levels 1.2164-1.2170, 1.2241-1.2270, 1.2301, 1.2372-1.2387, 1.2445, 1.2502-1.2508, 1.2547, 1.2613, 1.2680-1.2685, 1.2723, and 1.2791-1.2798. No significant events or reports are scheduled in the UK or the US on Monday, so strong price fluctuations are unlikely. The pound may continue to drift toward the ascending trend line.

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.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

GBP/USD: plan para la sesión europea del 17 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). La libra se obstina en no querer caer

El viernes pasado se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué sucedió allí. En mi pronóstico

Miroslaw Bawulski 07:31 2025-03-17 UTC+2

EUR/USD: plan para la sesión europea del 17 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). El euro está encerrado en un canal lateral

El viernes pasado sólo se formó un punto de entrada. Echemos un vistazo al gráfico de 5 minutos y entendamos lo que ocurrió allí. En mi pronóstico de la mañana

Miroslaw Bawulski 07:31 2025-03-17 UTC+2

GBP/USD: plan para la sesión europea del 14 de marzo. Informes COT del Commitment of Traders (análisis de las operaciones de ayer). La libra mantiene sus posibilidades de subir

Ayer se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué sucedió allí. En mi pronóstico de la mañana presté

Miroslaw Bawulski 07:34 2025-03-14 UTC+2

EUR/USD: plan para la sesión europea del 14 de marzo. Informes COT del Commitment of Traders (análisis de las operaciones de ayer). El euro sigue corrigiéndose

Ayer se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué sucedió allí. En mi pronóstico de la mañana presté

Miroslaw Bawulski 07:34 2025-03-14 UTC+2

GBP/USD: plan para la sesión europea del 13 de marzo. Informes COT del Commitment of Traders (análisis de las operaciones de ayer). La libra alcanza otro máximo de un mes

GBP/USD: plan para la sesión europea del 13 de marzo. Informes COT del Commitment of Traders (análisis de las operaciones de ayer). La libra alcanza otro máximo

Miroslaw Bawulski 07:23 2025-03-13 UTC+2

EUR/USD: plan para la sesión europea del 13 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). El euro apenas reaccionó a la inflación estadounidense

Ayer se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué ocurrió allí. En mi pronóstico de la mañana presté

Miroslaw Bawulski 07:23 2025-03-13 UTC+2

GBP/USD: plan para la sesión europea del 12 de marzo. Informes COT del Commitment of Traders (análisis de las operaciones de ayer). La libra sigue subiendo

Ayer se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué ocurrió. En mi pronóstico de la mañana presté atención

Miroslaw Bawulski 07:49 2025-03-12 UTC+2

EUR/USD: plan para la sesión europea del 12 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). El euro apunta a 1,10

Ayer se formaron varios puntos de entrada. Echemos un vistazo al gráfico de 5 minutos y veamos qué ocurrió. En mi previsión de la mañana, me centré en el nivel

Miroslaw Bawulski 07:49 2025-03-12 UTC+2

GBP/USD: plan para la sesión europea del 6 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). La libra sufrió una pequeña corrección

Ayer se formaron varios buenos puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué sucedió allí. En mi pronóstico de la mañana

Miroslaw Bawulski 07:19 2025-03-07 UTC+2

EUR/USD: plan para la sesión europea del 7 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). El BCE baja las tasas de interés

Ayer se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué sucedió allí. En mi pronóstico de la mañana presté

Miroslaw Bawulski 07:19 2025-03-07 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el 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.