empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
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
Key documents
Social Responsibility
17.03.2025 12:30 PM
GBP/USD. March 17th. Bulls Pin Their Hopes on Jerome Powell
Open trading account Open demo account

On the hourly chart, the GBP/USD pair continued to trade sideways on Friday. This sideways movement persists on Monday, with trading activity remaining extremely low. Monday's news background is weak, and in these conditions, the 1.2931 level carries little significance. With no market activity, any trading signal is unlikely to trigger strong movement.

This image is no longer relevant

The wave structure is completely clear. The last completed downward wave failed to break below the previous low, while the last upward wave surpassed the previous peak. Thus, at the moment, we can consider that a bullish trend is forming. The British pound has been showing strong growth recently, even excessively strong. The news background does not seem strong enough to justify such relentless bullish pressure. However, most traders are unwilling to buy the U.S. dollar regardless of economic data, as Donald Trump is introducing new tariffs every other day, which will negatively impact U.S. economic growth and that of many other countries.

The news flow on Friday was mixed, but traders avoided active trading unless it involved Trump-related developments. Since the U.S. president refrained from introducing new tariffs, the market decided to wait until next week. This week, however, both the Bank of England and the Federal Reserve will hold their monetary policy meetings. The main intrigue lies in the speeches of Andrew Bailey and Jerome Powell, as monetary policy parameters are very likely to remain unchanged. Jerome Powell may express concerns about a slowdown in the U.S. economy due to Trump's actions, and as a result, he could adopt a much more dovish stance than before. This would be very bad news for the dollar, if not an outright disaster. As we can see, very few traders are currently willing to buy the U.S. dollar, even within a retracement. Traders lack confidence in the U.S. economy, and under Donald Trump, the dollar has been steadily declining.

This image is no longer relevant

On the four-hour chart, the pair continues its upward movement. I do not expect a significant decline in the British pound unless quotes close below the upward channel. The CCI indicator has formed a bearish divergence, which has not yet impacted bullish positions. A rebound from the 1.2994 level suggests a potential decline in the pound toward the 50.0% Fibonacci level at 1.2861, but there are no active sellers in the market.

Commitments of Traders (COT) Report:

This image is no longer relevant

The "Non-commercial" trader category has become more bullish over the last reporting week. The number of long positions held by speculators increased by 12,920, while the number of short positions increased by only 2,301. Bears have lost their market advantage. The gap between long and short positions now stands at nearly 30,000 in favor of bulls (95,000 vs. 66,000).

In my view, the British pound still has room for a decline, but recent market developments could lead to a longer-term reversal. Over the past three months, the number of long positions has decreased from 98,000 to 94,000, while the number of short positions has fallen from 78,000 to 66,000. However, more importantly, over the last six weeks, the number of long positions has surged from 59,000 to 95,000, while short positions have dropped from 81,000 to 66,000. Let's not forget—this has been during Trump's six weeks in office.

Economic Calendar for the U.S. and the U.K.:

U.S. – Retail Sales Change (12:30 UTC).

On Monday, the economic calendar includes only one event, which is unlikely to encourage traders to become more active. As a result, the news background's impact on market sentiment is expected to be weak.

GBP/USD Forecast and Trading Recommendations:

Selling the pair was possible after a rebound from the 1.2994 level on the four-hour chart, with targets at 1.2931 and 1.2865. These trades can remain open, but market activity is virtually nonexistent. Buying is possible if the price rebounds from 1.2931 on the hourly chart, but in a sideways market, movements are minimal. As a result, new signals may not play out as expected.

Fibonacci retracement levels are based on the 1.2809 – 1.2100 range on the hourly chart and the 1.2299 – 1.3432 range on the four-hour chart.

Samir Klishi,
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
Wave analysis
GBP/USD Analysis – March 18th The wave structure for GBP/USD remains somewhat ambiguous yet generally clear. At present, there is a high probability that a long-term downward trend is forming. Wave 5 has taken
Chin Zhao
19:45 2025-03-18 +02:00
1585
Wave analysis
EUR/USD Analysis – March 18th The wave structure on the four-hour chart is at risk of transforming into a more complex formation. A new downward wave structure began forming on September 25, taking the shape
Chin Zhao
19:43 2025-03-18 +02:00
1615
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

EUR/USD – March 18th: Christine Lagarde Warns the U.S.

On Monday, the EUR/USD pair once again moved toward the 1.0944 level, but this time, bulls failed to reach this target. As a result, no new trading signals were generated
Samir Klishi 10:30 2025-03-18 UTC+2

Forex forecast 18/03/2025: EUR/USD, GBP/USD, USD/CAD, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful
Sebastian Seliga 10:16 2025-03-18 UTC+2

GBP/USD – March 18: Will the FOMC Help the Dollar?

On the hourly chart, GBP/USD rebounded from the 1.2931 level on Monday and resumed its upward movement toward the 127.2% Fibonacci level at 1.3003. A rejection from this level would
Samir Klishi 10:03 2025-03-18 UTC+2

Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Tuesday March 18, 2025.

In the 4-hour chart of the Gold commodity instrument, Convergence is visible, which confirms that in the near future Gold has the potential to strengthen even though because the Stochastic
Arief Makmur 08:17 2025-03-18 UTC+2

Technical Analysis of Intraday Price Movement of EUR/JPY Cross Currency Pairs, Tuesday March 18, 2025

If we look at the 4-hour chart, the EUR/JPY cross currency pair appears to be moving harmoniously in the Bullish Pitchfork channel, which indicates that the bias of EUR/JPY
Arief Makmur 08:01 2025-03-18 UTC+2

EUR/USD Forecast for March 18, 2025

The extended Federal Reserve meeting on monetary policy is approaching, so we cannot yet conclude that yesterday's 0.64% rise in the S&P 500, the 0.32% drop in the dollar index
Laurie Bailey 03:37 2025-03-18 UTC+2

GBP/USD Forecast for March 18, 2025

On Monday, the pound rose by 53 pips and is now testing the resistance level at 1.3001. A breakout above this level would propel the pound's growth toward 1.3101. However
Laurie Bailey 03:37 2025-03-18 UTC+2

USD/JPY Forecast for March 18, 2025

This morning, the yen reached the 149.38 level, which coincides with the 23.6% Fibonacci retracement. This level is significant as it suggests a potential reversal into a new wave
Laurie Bailey 03:37 2025-03-18 UTC+2

Trading Signals for BITCOIN for March 17-19, 2025: sell below $85,000 (21 SMA - 200 EMA)

The key point for selling Bitcoin is to wait for it to reach $87,500 to $88,500, both of which could be good points to sell with short-term targets around $80,000
Dimitrios Zappas 15:16 2025-03-17 UTC+2

Trading Signals for EUR/USD for March 17-19, 2025: buy above 1.0875 (+1/8 Murray - 21 SMA)

Early in the American session, the EUR/USD pair was trading around 1.0895, above the 21 SMA, and above the 8/8 Murray, with a bullish bias. The euro is expected
Dimitrios Zappas 14:56 2025-03-17 UTC+2

Top analytics

Relevance up to 00:00 UTC--4
Global Market Dynamics: China, the US and AI Are Driving New Trends
06:16 2025-03-18
News
Relevance up to 03:00 2025-03-20 UTC--4
No Major Surprises Expected from the Fed Meeting (Anticipating a Sharp Drop in EUR/USD and Continued Cautious Gold Price Growth)
09:48 2025-03-18
Fundamental analysis
Relevance up to 04:00 UTC--4
GBP/USD – March 18: Will the FOMC Help the Dollar?
11:03 2025-03-18
Technical analysis
Relevance up to 20:00 UTC--4
EUR/USD Pair Overview – March 18: The Break is Over
05:04 2025-03-18
Fundamental analysis
Relevance up to 01:00 UTC--4
EUR/USD: Simple Trading Tips for Beginner Traders on March 18. Review of Yesterday's Forex Trades
09:00 2025-03-18
Forecast
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.