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09.04.2026 08:50 AM
GBP/USD: Simple Trading Tips for Beginner Traders on April 9. Analysis of Yesterday's Forex Trades

Analysis of Trades and Tips for Trading the British Pound

The price test at 1.3446 coincided with a period when the MACD indicator had moved significantly above the zero mark, limiting the pair's upward potential.

Significant disagreements in the peace agreement between the U.S. and Iran have become the main driver of pressure on risk assets. The British pound took a hit. The Israeli attack on Libya and the refusal to enrich uranium are the most problematic aspects of this agreement. The act of yet another attack on Libya, which many view as an intermediary country or even an ally of Iran, only heightened distrust of the West and its allies' intentions. This may prompt Iran to reconsider its commitments under a potential agreement, potentially provoking a new military conflict.

As for the data, today's financial activity is focused on one key macroeconomic indicator from the United Kingdom. In the first half of the day, the release of the lending conditions report published by the Bank of England is expected. This report serves as a reliable indicator of the availability of credit for various categories of borrowers, including both households and corporations. The document provides insights into banks' willingness to extend loans, the interest rates they offer, and the dynamics of loan demand. This information is important for assessing the state of the British economy. Special attention will be paid to forecasts from financial institutions regarding credit conditions for the coming months.

Regarding the intraday strategy, I will focus more on executing Scenarios #1 and #2.

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Buying Scenarios

Scenario #1: I plan to buy the pound today upon reaching an entry point around 1.3406 (green line on the chart) with a target for growth to 1.3448 (thicker green line on the chart). At 1.3448, I plan to exit the market and also sell the pound in the opposite direction, anticipating a movement of 30-35 pips from the entry point. Strong growth in the pound can only be expected with very strong data. Important! Before buying, ensure that the MACD indicator is above the zero mark and just beginning to rise from it.

Scenario #2: I also plan to buy the pound today if the price tests 1.3382 twice in a row while the MACD indicator is in the oversold area. This will limit the pair's downside potential and lead to an upward market reversal. A rise to the resistance levels of 1.3406 and 1.3448 can be expected.

Selling Scenarios

Scenario #1: I plan to sell the pound today after breaking the level of 1.3382 (red line on the chart), which will lead to a rapid decline in the pair. The key target for sellers will be the 1.3345 level, where I plan to exit the short positions and immediately buy in the opposite direction (anticipating a 20-25-pip move back from the level). Pressure on the pound may return at any moment. Important! Before selling, ensure that the MACD indicator is below the zero mark and just beginning to decline from it.

Scenario #2: I also plan to sell the pound today if the price tests 1.3406 twice in a row, when the MACD indicator is in the overbought area. This will limit the pair's upside potential and lead to a downward market reversal. A decline to the support levels of 1.3382 and 1.3345 can be expected.

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What Is On The Chart:

  • Thin green line – the entry price at which the trading instrument can be bought;
  • Thick green line – the expected price where Take Profit can be set, or profits can be secured, as further growth above this level is unlikely;
  • Thin red line – the entry price at which the trading instrument can be sold;
  • Thick red line – the expected price where Take Profit can be set, or profits can be secured, as further decline below this level is unlikely;
  • MACD Indicator. It is important to be guided by overbought and oversold zones upon entering the market.

Important: Beginner traders in the Forex market need to be very cautious when making entry decisions. It is best to be out of the market before important fundamental reports are released to avoid being caught in sharp price fluctuations. If you choose to trade during news releases, always set stop orders to minimize losses. Without setting stop orders, you can quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

And remember, for successful trading, it is essential to have a clear trading plan, like the one presented above. Spontaneous trading decisions based on the current market situation are inherently a losing strategy for intraday traders.

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