empty
23.02.2024 01:24 PM
Tips for trading GBP/USD

Following the strong bearish momentum yesterday, GBP/USD fell into a correction, and by this morning reached the breakdown area, providing sellers with excellent prices to enter short positions.

This image is no longer relevant

Market players should take this opportunity and sell the pair from the breakdown area, setting stop-loss at 1.27. Take profit upon the breakdown of 1.26.

This image is no longer relevant

The main target should be breaking the trend line and updating the level of 1.25.

The trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Andrey Shevchenko
Start trade
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 Pair on August 20? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair traded with a slight decline, which was not triggered by any events or reports. The ascending trendline

Paolo Greco 06:59 2025-08-20 UTC+2

How to Trade the EUR/USD Pair on August 20? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD pair traded intraday in both directions with minimal volatility. The macroeconomic and fundamental background remains absent, leaving

Paolo Greco 06:59 2025-08-20 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on August 20: A Total, News-Free Flat

The EUR/USD currency pair continued to trade on Tuesday with minimal volatility, without support from macroeconomic or fundamental background, and strictly sideways. As we expected, the U.S. construction sector reports

Paolo Greco 03:38 2025-08-20 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on August 20: The Pound Slips Down Weakly

The GBP/USD currency pair on Tuesday generally maintained the downward tendency of recent days. Unlike EUR/USD, GBP/USD is showing at least some movement. Naturally, this movement is corrective. A consolidation

Paolo Greco 03:38 2025-08-20 UTC+2

How to Trade the GBP/USD Pair on August 19? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD On Monday, the GBP/USD pair also traded lower and broke through its ascending trendline. After two weeks of growth, a technical correction

Paolo Greco 07:03 2025-08-19 UTC+2

How to Trade the EUR/USD Pair on August 19? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD On Monday, the EUR/USD currency pair began a new wave of decline, which had nothing to do with fundamentals or macroeconomics. During

Paolo Greco 07:03 2025-08-19 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on August 19: The Pound at a Crossroads

On Monday, the GBP/USD currency pair declined slightly, but this was enough for another test of the ascending trendline. In principle, the British currency has been rising for more than

Paolo Greco 04:15 2025-08-19 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on August 19: The Market is in a Daze

The EUR/USD currency pair showed ultra-weak movements on Friday and Monday. There was hope that traders would partially recover during the U.S. session yesterday, especially after the historic meeting between

Paolo Greco 04:15 2025-08-19 UTC+2

How to Trade the GBP/USD Pair on August 18? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of GBP/USD The GBP/USD pair also traded higher on Friday, though with minimal volatility. Three U.S. reports failed to trigger any reaction from traders

Paolo Greco 06:51 2025-08-18 UTC+2

How to Trade the EUR/USD Pair on August 18? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of EUR/USD The EUR/USD currency pair traded higher on Friday, but solely on "pure" technicals. There were no notable events or reports

Paolo Greco 06:51 2025-08-18 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.