empty
InstaForex - Official partner of Dragon Racing
InstaForex - Official partner of Dragon Racing
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
28.01.2025 01:29 PM
Forecast for GBP/USD on January 28, 2025
Open trading account Open demo account

On the hourly chart, the GBP/USD pair on Monday made another attempt to consolidate above the resistance zone of 1.2488–1.2508, which again failed. Bullish traders seem to be running out of steam after three weeks of attacks, often without solid justification. Therefore, I anticipate that this week the pair will continue its decline toward the support zone of 1.2363–1.2370 and the level of 1.2303.

This image is no longer relevant

The wave structure remains clear. The last completed downward wave broke the low of the previous wave, while the last upward wave has yet to reach the previous peak. This indicates an ongoing bearish trend with no doubts about its continuation. For this trend to reverse, the pound needs to rise to at least 1.2569 and close confidently above this level. While this is possible, discrepancies between the wave structures of the euro and the pound suggest that one of these structures will prove incorrect.On Monday, there was little news from the UK or the US. However, tomorrow will reveal the outcome of the FOMC meeting, and next week, we'll have the results of the Bank of England meeting, along with the release of the Q4 GDP report for the US on Thursday. If bearish traders aim to seize control, these events could provide the informational backdrop they need. In my opinion, further bullish attempts are doubtful. The market has already priced in all the negative factors for the dollar linked to Trump. From now on, economic factors—Fed and Bank of England monetary policies and the overall state of the US and UK economies—will take precedence. These factors are not favorable for the pound. While there are no significant UK news events this week, Trump's influence on the dollar may continue for a while. However, economic factors tend to outweigh political and geopolitical ones. On higher timeframes, the trend remains bearish. Bulls will need to exert significant effort to reverse it.

This image is no longer relevant

On the 4-hour chart, the pair continues to rise within a downward trend channel. A rebound from the upper boundary of this channel could lead to a reversal in favor of the US dollar and a decline toward the Fibonacci 100.0% level at 1.2299. Consolidation above the channel could finally drive bears out of the market. However, bulls will require consistent positive news from the UK or negative news from the US, which is currently difficult to expect. No emerging divergences are observed in any indicators today.

Commitments of Traders (COT) Report

This image is no longer relevant

The sentiment of the "Non-commercial" category of traders became significantly more bearish during the last reporting week. The number of long positions held by speculators decreased by 4,861, while short positions increased by 3,834. Bulls have lost all advantage in the market, with this process unfolding over several months. The gap between the number of long and short positions is now in favor of the bears: 75,000 vs. 84,000.

In my view, the pound still has room to fall, as COT reports show the growing strength of bearish positions nearly every week. Over the past three months, long positions have dropped from 161,000 to 75,000, while short positions have risen from 67,000 to 84,000. I believe professional traders will continue to reduce long positions or increase short ones, as all potential bullish factors for the pound have already been priced in. Current chart analysis indicates growth, but corrections are also necessary.

News Calendar for the US and UK:

  • US: Durable Goods Orders (13:30 UTC).

Tuesday's economic calendar contains only one event, which bears are relying on. The overall impact of the news on trader sentiment for the rest of the day is expected to be weak.

GBP/USD Forecast and Recommendations:

  • Sell opportunities: Sales will be possible if the pair consolidates below the upward trend channel on the hourly chart. Selling was also viable on a rebound from the 1.2488–1.2508 zone, with targets at 1.2363–1.2370.
  • Buy opportunities: Consider buying the pound today on a rebound from the 1.2363–1.2370 zone on the hourly chart, targeting 1.2488–1.2508.

Fibonacci Levels:

  • Built on 1.3000–1.3432 on the hourly chart.
  • Built on 1.2299–1.3432 on the 4-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
Crypto-currencies
Bitcoin and Ethereum Remain Under Pressure Although the cryptocurrency market has stabilized after Monday's sell-off, it is still too early to dismiss sellers. In Washington and the crypto market, many questions arise about how exactly
Jakub Novak
09:32 2025-03-05 +02:00
1090
Forecast
USD/JPY: Simple Trading Tips for Beginner Traders on March 5. Review of Yesterday's Forex Trades The price test at 148.72 occurred when the MACD indicator had just begun moving upward from the zero mark, confirming a valid entry point for buying the US dollar
Jakub Novak
09:02 2025-03-05 +02:00
1240
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 and GBP/USD March 5 – Technical Analysis

The start of the new week gives bullish traders a reason to remain optimistic and effective. They have not only exited the daily Ichimoku cloud, creating a breakout target
Evangelos Poulakis 07:11 2025-03-05 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Mixed Currency Pair , Wednesday, March 05, 2025.

AUD/JPY on its 4-hour chart appears to be strengthening, which is confirmed by the appearance of Divergence between its price movement and the Stochastic Oscillator indicator as well
Arief Makmur 05:52 2025-03-05 UTC+2

Technical Analysis of Intraday Price Movement of XPD/USD Commodity Instrument Pair, Wednesday, March 05, 2025.

On the 4-hour chart, the Palladium vs USD commodity instrument appears to be trying to break and close above the 944.00 level, which is confirmed by the appearance of Divergence
Arief Makmur 05:52 2025-03-05 UTC+2

Trading Signals for GOLD (XAU/USD) for March 4-6, 2025: sell below $2,908 (21 SMA - 61.8%)

Technically, gold reached overbought levels. However, we believe that the technical correction could continue in the next few hours, and gold could reach 2,890 (6/8 Murray) and even
Dimitrios Zappas 04:38 2025-03-05 UTC+2

EUR/USD Forecast for March 5, 2025

The U.S. has imposed tariffs on goods from Canada and Mexico. In response, Canada has introduced 25% tariffs on U.S. products, while Mexico is set to make an announcement
Laurie Bailey 03:13 2025-03-05 UTC+2

GBP/USD Forecast for March 5, 2025

Yesterday, the pound sterling rose by 83 pips, bringing it close to the target range of 1.2816 to 1.2847, which is now a likely reversal point. This is particularly notable
Laurie Bailey 03:13 2025-03-05 UTC+2

AUD/USD Forecast for March 5, 2025

On Tuesday, the Australian dollar fluctuated within the entire range defined by the daily MACD line and the target resistance level of 0.6273. However, today it has begun to pull
Laurie Bailey 03:13 2025-03-05 UTC+2

EUR/USD – March 4th: Inflation in the EU Prevents ECB from Easing Policy

On Monday, the EUR/USD pair continued its upward movement, ending the day near last week's highs. In my view, the market is currently in a state of chaos and panic
Samir Klishi 11:56 2025-03-04 UTC+2

Forex forecast 04/03/2025: EUR/USD, GBP/USD, USD/JPY, Oil 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 11:20 2025-03-04 UTC+2

GBP/USD. March 4th. The Pound Takes a Break, Dollar Determines the Pair's Movement

On the hourly chart, the GBP/USD pair reversed in favor of the British pound on Monday and posted new growth up to the level of 1.2709. Another rebound from this
Samir Klishi 10:18 2025-03-04 UTC+2

Top analytics

Relevance up to 01:00 2025-03-06 UTC--5
GBP/USD: Simple Trading Tips for Beginner Traders on March 5. Review of Yesterday's Forex Trades
09:02 2025-03-05
Forecast
Relevance up to 21:00 2025-03-05 UTC--5
EUR/USD Forecast for March 5, 2025
04:13 2025-03-05
Technical analysis
Relevance up to 01:00 2025-03-06 UTC--5
EUR/USD: Simple Trading Tips for Beginner Traders on March 5. Review of Yesterday's Forex Trades
09:02 2025-03-05
Forecast
Relevance up to 23:00 2025-03-06 UTC--5
EUR/USD and GBP/USD March 5 – Technical Analysis
08:11 2025-03-05
Technical analysis
Relevance up to 21:00 2025-03-05 UTC--5
GBP/USD Forecast for March 5, 2025
04:13 2025-03-05
Technical analysis
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.