I’m new to this. Have looked a few times before but am still looking for a method I’m happy with (indicator or whatever I find works best for me) before I invest.
I’ve been using a MACD indicator and looks like I could on average clear between .050-.200 pips regularly.
But how much would let’s say .200 pips be worth in real money?
Let’s say I stick £20 in an account (2 weeks before xmas, I live in the real world and don’t have a spare £500+) and I see a good rise, so I buy, and cash out with .200 pips - let’s say GBPUSD market.
What roughly would that mean? 20p? £2?

You haven’t included a position size in your question, which is the determining factor here.

Let’s assume you put on a £1000 GBP/USD trade (50:1 leverage on your £20). At that position size each pip (.0001) is worth $1. So .2 pips (.00002) would be $0.20. To get that in £ terms you divide by the current GBP/USD rate.

Your indication of thinking to make .050-.200 pips on average suggests to me you may have your pip understanding a bit off. Hopefully my example helps clarify.

Depends on the lot size you choose. for example if you trade with 0.01 lot 200 pips will be $20.
I think max what you can trade with 20 pounds is 0.03-0.04 lot. If you make ideal entry with 0.04 lot then 200 pips will be 80 bucks.

Just to follow up for additional clarity, for JPY pairs a pip is .01. For all the other majors a pip is .0001. Any move smaller than those would be fractional pips or pippettes.