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
Headquarters
Key documents
Social Responsibility
01.06.2023 07:57 AM
GBP/USD: Forecast and trading signals on June 1, 2023. COT report. Detailed analysis of price movement and trades
Open trading account Open demo account

M5 chart of GBP/USD

This image is no longer relevant

On Wednesday, GBP/USD showed impressive growth for no reason. If taking a closer look, we may assume that a rise in price was justified. Indeed, some EU countries delivered inflation statistics in the past two days. Those reports showed a noticeable slowdown. In this light, the possibility of additional tightening from the ECB decreases. Because those figures had nothing to do with the UK and the pound, the pair was able to enter a technical correction. Moreover, it showed weakness after a hawkish statement from Cleveland FED President Loretta Mester. All in all, the pound strengthened for no reason. In the UK, no important macro releases were scheduled.

As for trading signals, there were plenty of them yesterday, especially in the American session. In the first half of the day, the pair consolidated below the Kijun-sen and bounced off 1.2349. Those two signals brought insignificant profit. In the American session, the pair reversed five times in two hours, each time breaking the key line. Naturally, signals were false. However, traders used the first two signals. In the first case, a Stop Loss triggered at the breakeven level. In the second case, small losses were incurred.

COT report:

This image is no longer relevant

According to the latest report, non-commercial traders closed 8,100 long positions and 7,100 short ones. The net position dropped by 1,000 but remained bullish. Over the past 9-10 months, the net position has been on the rise despite bearish sentiment. The pound is bullish against the greenback in the medium term, but there have been hardly any reasons for that. We assume that a prolonged bear run has begun. COT reports suggest a bullish continuation. However, we can hardly explain why the uptrend should go on.

Both major pairs are in correlation now. At the same time, the positive net position on EUR/USD shows the end of the uptrend. Meanwhile, the net position on GBP/USD is neutral. The pound has gained about 2,300 pips. Therefore, a bearish correction is now needed. Otherwise, a bullish continuation would make no sense even despite the lack of support from fundamental factors. Overall, non-commercial traders hold 57,600 sell positions and 69,200 long ones. We do not see the pair extending growth in the long term.

H1 chart of GBP/USD

This image is no longer relevant

In the H1 time frame, there have been attempts to stop the current downtrend of GBP/USD for the second straight day. Yesterday, the price broke the Senkou Span B. However, to extend growth, the pair also needs to break the range of 1.2429-1.2445. The price may well pull back from it and resume the downtrend today. Moreover, there will be enough macro releases in the coming days that could provide support for the greenback.

On June 1, trading levels are seen at 1.2188, 1.2269, 1.2349, 1.2429-1.2445, 1.2520, 1.2589, and 1.2666. The Senkou Span B (1.2427) and Kijun-sen (1.2375) may also generate signals when the price either breaks or bounces off them. A Stop Loss should be placed at the breakeven point when the price goes 20 pips in the right direction. Ichimoku indicator lines can move intraday, which should be taken into account when determining trading signals. There are also support and resistance which can be used for locking in profits.

On Thursday, the UK will release a report on manufacturing business activity. In the US, data on jobless claims, ISM business activity, and the ADP employment change will be delivered. Volatility is expected to be at a high level. The price may frequently reverse during the day.

Indicators on charts:

Resistance/support - thick red lines, near which the trend may stop. They do not make trading signals.

The Kijun-sen and Senkou Span B lines are the Ichimoku indicator lines moved to the hourly timeframe from the 4-hour timeframe. They are also strong lines.

Extreme levels are thin red lines, from which the price used to bounce earlier. They can produce trading signals.

Yellow lines are trend lines, trend channels, and other technical patterns.

Indicator 1 on the COT chart is the size of the net position of each trader category.

Indicator 2 on the COT chart is the size of the net position for the Non-commercial group of traders.

Paolo Greco,
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
Analysis for GBP/USD on March 27, 2025 The wave pattern for GBP/USD remains somewhat ambiguous, but overall, it is manageable. There is still a high probability of a long-term downward trend developing. Wave 5 has taken
Chin Zhao
19:07 2025-03-27 +02:00
1225
Forecast
USDJPY: Simple Trading Tips for Beginner Traders on March 27th (U.S. Session) Trade analysis and tips for trading the Japanese yen The test of the 150.27 level occurred when the MACD indicator had just begun to rise from the zero mark, confirming
Jakub Novak
19:04 2025-03-27 +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

GBP/USD: Trading Plan for the U.S. Session on March 27th (Review of Morning Trades)

In my morning forecast, I focused on the 1.2916 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and see what happened
Miroslaw Bawulski 17:56 2025-03-27 UTC+2

EUR/USD: Trading Plan for the U.S. Session on March 27th (Review of Morning Trades)

In my morning forecast, I focused on the 1.0769 level and planned to make trading decisions based on it. Let's take a look at the 5-minute chart and see what
Miroslaw Bawulski 17:53 2025-03-27 UTC+2

How to Trade the GBP/USD Pair on March 27? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair showed a downward movement that finally aligned with the macroeconomic backdrop. During the day, traders were interested
Paolo Greco 05:42 2025-03-27 UTC+2

How to Trade the EUR/USD Pair on March 27? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair continued its sluggish decline. The euro's depreciation is quite logical, although traders continue to ignore
Paolo Greco 05:42 2025-03-27 UTC+2

Trading Recommendations and Analysis for GBP/USD on March 27: Pound Dropped, but Nothing Has Changed

The GBP/USD currency pair traded lower on Wednesday. We had warned that the pair has recently been swinging like a pendulum. The pound was rising on Tuesday, so it could
Paolo Greco 03:06 2025-03-27 UTC+2

Trading Recommendations and Analysis for EUR/USD on March 27: The Market Is in No Hurry

The EUR/USD currency pair traded with minimal losses throughout Wednesday, while the overall trend on the hourly time frame remains bearish following the price's exit from the ascending channel
Paolo Greco 03:06 2025-03-27 UTC+2

GBP/USD: Trading Plan for the U.S. Session on March 26th (Review of the Morning Trades)

In my morning forecast, I highlighted the 1.2926 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and analyze what happened. The breakout
Miroslaw Bawulski 17:24 2025-03-26 UTC+2

EUR/USD: Trading Plan for the U.S. Session on March 26th (Review of the Morning Trades)

In my morning forecast, I highlighted the 1.0780 level and planned to make market entry decisions based on it. Let's look at the 5-minute chart and analyze what happened. Although
Miroslaw Bawulski 17:21 2025-03-26 UTC+2

How to Trade the GBP/USD Pair on March 26? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair traded with a slight increase, but the overall movement of recent weeks increasingly resembles a flat market
Paolo Greco 05:55 2025-03-26 UTC+2

How to Trade the EUR/USD Pair on March 26? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair continued its weak downward movement. This is visible on any illustration of any timeframe, after
Paolo Greco 05:55 2025-03-26 UTC+2

Top analytics

Relevance up to 05:00 UTC--4
Gold Knows the Path to Victory
11:55 2025-03-27
Fundamental analysis
Relevance up to 01:00 2025-03-28 UTC--4
EUR/USD: Simple Trading Tips for Beginner Traders on March 27. Review of Yesterday's Forex Trades
09:03 2025-03-27
Forecast
Relevance up to 21:00 2025-03-27 UTC--4
EUR/USD Pair Overview – March 27: Donald Trump Steps Back
04:06 2025-03-27
Fundamental analysis
Relevance up to 01:00 2025-03-28 UTC--4
USD/JPY: Simple Trading Tips for Beginner Traders on March 27. Review of Yesterday's Forex Trades
09:03 2025-03-27
Forecast
Relevance up to 05:00 2025-03-28 UTC--4
XAU/USD – Analysis and Forecast
11:44 2025-03-27
Fundamental 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.