empty
24.06.2025 06:57 AM
How to Trade the GBP/USD Pair on June 24? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades

1H Chart of GBP/USD

This image is no longer relevant

The GBP/USD pair also showed quite a strong upward move by the end of Monday. The rally began during the U.S. trading session, just when most traders had already lost hope of any reaction to the escalation of the Middle East conflict and the U.S. entering a war against Iran. But, as often happens, the movement began when no one expected it anymore.

The dollar strengthened slightly in the first half of the day, but as we had warned, it failed to demonstrate a significant rally. This is because the issue now is not merely increased tensions in the Middle East but America's entry into military confrontation with Iran. Already yesterday, reports emerged of Iranian attacks on American military bases in the region. Although Trump does not want to retaliate against Iran with further strikes, everything revolves around the so-called ceasefire. As long as Iran does not abandon its nuclear development, Trump will continue to pressure the country. Therefore, there is no sign of de-escalation — neither of this conflict nor of the global trade war. Now, the U.S. is officially involved in its second international conflict.

5M Chart of GBP/USD

This image is no longer relevant

In the 5-minute timeframe, several signals were formed on Monday, as the price did not remain still throughout the day. Unfortunately, the first two trading signals are unreliable since the main movement started only during the U.S. session. The first buy signal near the 1.3413–1.3421 area turned out to be false and resulted in a small loss due to a stop-loss hit. The second sell signal around the same area was also false, but the price did move 30 pips in the correct direction, so the Stop Loss was triggered at breakeven. The third signal was strong, and the price reached the nearest target area of 1.3518–1.3535, which could yield solid profits.

Trading Strategy for Tuesday:

On the hourly timeframe, the GBP/USD pair continues to track closely with developments around Donald Trump and remains highly skeptical of his policies. Therefore, the market either keeps selling the dollar or waits for more negative news from overseas to resume selling it. This will likely continue until the market sees real signs of the trade war coming to an end or until Trump stops making decisions that he has no authority to make, which leaves market participants stunned. The dollar may occasionally gain some value, but such instances are currently quite rare.

On Tuesday, the GBP/USD pair may continue its upward move, as the previous downtrend appears to have ended. The U.S.'s military engagement against Iran has worked against the dollar.

Relevant trading levels to consider: 1.3043, 1.3102–1.3107, 1.3203–1.3211, 1.3259, 1.3329–1.3331, 1.3413–1.3421, 1.3518–1.3535, 1.3580–1.3592, 1.3643–1.3652, 1.3695, 1.3740. As for notable events on Tuesday, only Jerome Powell's speech stands out. However, under the current circumstances, it is unlikely that Powell will share any important information with the market.

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 InstaTrade
© 2007-2025

Recommended Stories

Trading Recommendations and Trade Breakdown for GBP/USD on July 17: British Inflation Interests No One

On Wednesday, the GBP/USD currency pair continued to decline throughout most of the day, until an inexplicable surge in the evening. Recall that on Tuesday, the U.S. inflation report

Paolo Greco 03:21 2025-07-17 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on July 17: The Dollar Keeps Advancing

On Wednesday, the EUR/USD currency pair continued to trade downward, but in the evening it suddenly surged upward. Once again, there were no clear reasons or grounds for the pair's

Paolo Greco 03:21 2025-07-17 UTC+2

How to Trade the GBP/USD Pair on July 16? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD The GBP/USD pair also plummeted on Tuesday following the release of the U.S. inflation report. In recent weeks, the British pound

Paolo Greco 07:30 2025-07-16 UTC+2

How to Trade the EUR/USD Pair on July 16? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD The EUR/USD currency pair plunged sharply on Tuesday following the release of the U.S. inflation report. As the saying goes, nothing foretold

Paolo Greco 07:30 2025-07-16 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on July 16. The Market Used Another Formal Factor

On Tuesday, the GBP/USD currency pair continued its downward movement. Although core inflation in the U.S. rose exactly in line with forecasts—and the core rate even accelerated less than expected—the

Paolo Greco 04:22 2025-07-16 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on July 16. U.S. Inflation Didn't Surprise but Confirmed Fears

For most of Tuesday, the EUR/USD currency pair continued to trade with minimal volatility, moving sideways. The Eurozone industrial production report showed a relatively strong reading

Paolo Greco 04:22 2025-07-16 UTC+2

How to Trade the GBP/USD Pair on July 15? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD On Monday, the GBP/USD pair continued its downward movement. Recently, the euro and the pound have shown low correlation, as the euro

Paolo Greco 06:45 2025-07-15 UTC+2

How to Trade the EUR/USD Pair on July 15? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD On Monday, the EUR/USD currency pair formally continued its downward movement but in practice traded sideways with low volatility for the second

Paolo Greco 06:45 2025-07-15 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on July 15: The British Pound Shows Weakness

The GBP/USD currency pair continued its downward movement throughout Monday. Despite the absence of macroeconomic news in both the UK and the US, the market still found new reasons

Paolo Greco 03:58 2025-07-15 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on July 15: Euro Stuck Near a Key Level

The EUR/USD currency pair moved sideways throughout Monday. In our previous article, we anticipated that there wouldn't be a strong move on the first trading day of the week

Paolo Greco 03:58 2025-07-15 UTC+2
Can't speak right now?
Ask your question in the chat.
 

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 InstaTrade anyway.

We are sorry for any inconvenience caused by this message.