empty
InstaForex - Official partner of Dragon Racing
InstaForex - Official partner of Dragon Racing
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
23.05.2025 05:58 AM
How to Trade the GBP/USD Pair on May 23? Simple Tips and Trade Analysis for Beginners
Open trading account Open demo account

Analysis of Thursday's Trades

1H Chart of GBP/USD

This image is no longer relevant

The GBP/USD pair didn't even attempt a correction on Thursday. While the euro faced bearish pressure from weak business activity indices in the Eurozone and Germany, the British pound had no such downward drivers. Yes, the UK Manufacturing PMI also came in weak—similar to Europe—but the Services sector helped support the pound. That said, the pound currently doesn't seem to need saving.

The British currency is rising Bitcoin-style — steadily and almost without corrections. Currently, the price is hovering around 1.3443, close to the upper boundary of the sideways channel the pair has been trading in for a month. We believe this level will be broken, and the pound's rally will continue. The ascending trendline confirms the current direction.

5M Chart of GBP/USD

This image is no longer relevant

Several signals were formed in the 5-minute timeframe on Thursday, but none of them were particularly strong. The problem was that the price moved sideways all day. Traders lacked the momentum to break through the 1.3421–1.3443 zone, especially given mediocre UK data and decent U.S. figures. Moreover, there were no solid reasons to sell the pair. As a result, the price repeatedly bounced off this zone but never showed any meaningful decline.

Trading Strategy for Friday:

In the hourly timeframe, GBP/USD closely follows Donald Trump's actions, maintaining a skeptical stance toward his policies. Remember that a U.S.-UK trade agreement and tariff reductions between the U.S. and China are positive for the dollar, not the pound. A Bank of England rate cut and the Federal Reserve holding rates are also positive for the dollar. Yet, we observe the opposite market reaction and price movement — the market ignores 90% of dollar-positive factors.

On Friday, the pair will likely continue trading on technical factors. The market will either look for any reason to sell the dollar or simply wait for fresh news. Market sentiment remains unchanged day after day.

On the 5-minute TF, it is now possible to trade at 1.2848-1.2860, 1.2913, 1.2980-1.2993, 1.3043, 1.3102-1.3107, 1.3203-1.3211, 1.3259, 1.3329-1.3331, 1.3421-1.3443, 1.3537, 1.3580-1.3598. The UK is scheduled to release retail sales data on Friday, but it will unlikely impact traders' prevailing "always buy" sentiment. The U.S. news calendar for May 23 is empty.

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
All Analytics
Forecast
USD/JPY: Simple Trading Tips for Beginner Traders for June 6th (U.S. Session) Trade Review and Tips for Trading the Japanese Yen The price test at 144.02 in the first half of the day occurred when the MACD indicator had already moved significantly
Jakub Novak
15:46 2025-06-06 +02:00
1540
Forecast
GBP/USD: Simple Trading Tips for Beginner Traders for June 6th (U.S. Session) Trade Review and Tips for Trading the British Pound The price test at 1.3546 in the first half of the day occurred when the MACD indicator had already moved significantly
Jakub Novak
15:43 2025-06-06 +02:00
1450
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD: Trading Plan for the U.S. Session on June 6th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.3544 level and planned to make market entry decisions based on it. Let's look at the 5-minute chart and see what happened
Miroslaw Bawulski 15:38 2025-06-06 UTC+2

EUR/USD: Trading Plan for the U.S. Session on June 6th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.1407 level and planned to make market entry decisions based on it. Let's look at the 5-minute chart and see what happened. There
Miroslaw Bawulski 15:36 2025-06-06 UTC+2

How to Trade the GBP/USD Currency Pair on June 6th? Simple Tips and Trade Analysis for Beginners

Thursday Trade Analysis: GBP/USD 1H Chart. The GBP/USD pair continued its upward movement on Thursday, despite having even fewer reasons for it than the EUR/USD pair. There was no news
Paolo Greco 09:57 2025-06-06 UTC+2

How to Trade the EUR/USD Currency Pair on June 6th? Simple Tips and Trade Analysis for Beginners

The EUR/USD currency pair continued its upward movement on Thursday, in line with the current trend. There were no reasons for a new "rally" of the European currency. The only
Paolo Greco 09:51 2025-06-06 UTC+2

Trading Recommendations and Trade Analysis for GBP/USD on June 6, 2025

The GBP/USD currency pair continued its upward movement on Thursday, even though once again there were no apparent reasons for it. The British pound keeps rising practically on any occasion
Paolo Greco 04:43 2025-06-06 UTC+2

Trading Recommendations and Trade Analysis for EUR/USD on June 6, 2025

The EUR/USD currency pair continued trading with gains on Thursday. Not even the latest monetary policy easing by the ECB could save the dollar. Yesterday, the European regulator decided
Paolo Greco 04:26 2025-06-06 UTC+2

GBP/USD: Trading Plan for the U.S. Session on June 5th (Review of Morning Trades)

In my morning forecast, I focused on the 1.3562 level and planned to make market entry decisions around it. Let's look at the 5-minute chart and see what happened. Growth
Miroslaw Bawulski 19:46 2025-06-05 UTC+2

EUR/USD: Trading Plan for the U.S. Session on June 5th (Review of Morning Trades)

In my morning forecast, I focused on the 1.1407 level and planned to make market entry decisions around it. Let's look at the 5-minute chart and analyze what happened
Miroslaw Bawulski 19:39 2025-06-05 UTC+2

How to Trade the GBP/USD Pair on June 5? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD The GBP/USD pair continued its upward movement on Wednesday, following the new trend. Recall that the price had settled below the previous
Paolo Greco 06:39 2025-06-05 UTC+2

How to Trade the EUR/USD Pair on June 5? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair traded with low volatility and an upward bias. We anticipated that the macroeconomic background would
Paolo Greco 06:39 2025-06-05 UTC+2

Top analytics

Relevance up to 23:00 UTC--5
Forecast for EUR/USD on June 6, 2025
08:21 2025-06-06
Technical analysis
Relevance up to 22:00 UTC--5
Forecast for GBP/USD on June 6, 2025
08:17 2025-06-06
Technical analysis
Relevance up to 04:00 UTC--5
XAU/USD. Analysis and Forecast
15:30 2025-06-06
Fundamental analysis
Relevance up to 02:00 UTC--5
Forecast for EUR/USD on June 6, 2025
11:09 2025-06-06
Technical analysis
Relevance up to 22:00 UTC--5
Forecast for USD/JPY on June 6, 2025
08:13 2025-06-06
Technical analysis
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

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.