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
Headquarters
Key documents
Social Responsibility
05.05.2025 10:51 AM
GBP/USD – May 5: Trump May Lift Tariffs on China
Open trading account Open demo account

On the hourly chart, the GBP/USD pair continued its decline on Friday toward the 161.8% Fibonacci correction level at 1.3249. A rebound from this level will favor the British pound and could lead to some growth toward the 1.3357 level. A close below 1.3249 will increase the likelihood of continued decline toward 1.3149. The bullish trend is currently still intact.

This image is no longer relevant

There are no doubts recently regarding the wave structure. The last completed upward wave broke the previous high, while the new downward wave has not breached the last low. This confirms that the bullish trend remains valid. A reversal will only be possible after a confident close below 1.3249, accompanied by a relevant news backdrop from the White House indicating a reduction in global trade war tensions. Otherwise, dollar strengthening is likely to end.

The news background on Friday could have created new problems for the bears, yet they held their ground. Last week, bears managed to execute several attacks despite the ambiguous news background for the dollar. Nonfarm Payrolls and the unemployment rate reports saved the situation on Friday. Had those reports been negative, the pair might have returned to the 1.3357 level—and from there, the 1.3425 peak wouldn't be far.

Two weak factors currently support the dollar. First, Trump hasn't introduced new tariffs or raised existing ones in several weeks. Second, he has shown a gradual inclination toward easing tariff policies. He first lowered tariffs to 10% for all countries except China for a period of three months. Then he repeatedly mentioned reducing tariffs for China, warning that trade between the U.S. and China might completely halt, which benefits no one. However, I have no doubt that the U.S. President will only be ready to reduce tariffs after a trade agreement is signed. And as is well known, there are no negotiations currently underway.

This image is no longer relevant

On the 4-hour chart, the pair rebounded from the 100.0% Fibonacci level at 1.3435, turned in favor of the dollar, and began to decline toward the 76.4% corrective level at 1.3118. No divergences are forming on any indicators today. The upward trend channel continues to signal a bullish trend. The news background is contradictory, which doesn't support expectations for strong dollar growth.

Commitments of Traders (COT) Report

This image is no longer relevant

The sentiment of the "Non-commercial" trader category became more bullish last reporting week. Long positions decreased by 2,957 contracts, while Short positions decreased by 6,426 contracts. Bears have lost their market advantage. The gap between Long and Short positions now stands at 24,000 in favor of the bulls: 91,000 vs. 67,000.

In my view, the British pound still has room for decline, but recent developments could trigger a long-term market reversal. Over the last three months, Long positions have grown from 80,000 to 91,000, while Short positions have fallen from 80,000 to 67,000. More notably, over the past 14 weeks, Long positions rose from 59,000 to 91,000 and Shorts fell from 81,000 to 67,000.

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

  • U.S. – S&P Services PMI (13:45 UTC)
  • U.S. – ISM Services PMI (14:00 UTC)

On Monday, the economic calendar includes two fairly important entries, but economic data is not currently the main driver for traders. The influence of the news background on trader sentiment will be weak on Monday.

Forecast and Trading Tips for GBP/USD:

  • Sell the pair today if the hourly chart closes below the 1.3249 level, with a target of 1.3139.
  • Buy the pair if it rebounds from the 1.3249 level on the hourly chart, with a target of 1.3357.

Fibonacci levels are built from 1.2809 to 1.2100 on the hourly chart, and from 1.3431 to 1.2104 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
Forecast
USD/JPY: Simple Trading Tips for Beginner Traders for June 6th (U.S. Session) Trade Review and Tips for Trading the Japanese Yen The price test at 144.02 in the first half of the day occurred when the MACD indicator had already moved significantly
Jakub Novak
15:46 2025-06-06 +02:00
1105
Forecast
GBP/USD: Simple Trading Tips for Beginner Traders for June 6th (U.S. Session) Trade Review and Tips for Trading the British Pound The price test at 1.3546 in the first half of the day occurred when the MACD indicator had already moved significantly
Jakub Novak
15:43 2025-06-06 +02:00
1075
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

USD/CAD. Analysis and Forecast

The pair is attempting to attract buyers, but spot prices remain close to a yearly low and appear vulnerable to further decline. The Canadian dollar is supported by reports
Irina Yanina 15:33 2025-06-06 UTC+2

EUR/JPY. Analysis and Forecast

The EUR/JPY pair continues to demonstrate stable positive dynamics. Spot prices remain near a three-week high. Factors supporting the rise of EUR/JPY include disappointing data on household spending in Japan
Irina Yanina 11:21 2025-06-06 UTC+2

Forecast for EUR/USD on June 6, 2025

On Thursday, the EUR/USD pair continued its upward movement but made two rebounds from the 76.4% corrective level at 1.1454, suggesting a potential reversal in favor of the U.S. dollar
Samir Klishi 11:09 2025-06-06 UTC+2

Forecast for GBP/USD on June 6, 2025

On the hourly chart, the GBP/USD pair on Thursday rose to the resistance zone of 1.3611–1.3620, rebounded from it, and turned in favor of the U.S. dollar. A decline began
Samir Klishi 11:03 2025-06-06 UTC+2

Forex forecast 06/06/2025: EUR/USD, USD/JPY, SP500, Oil, Ethereum 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 09:51 2025-06-06 UTC+2

Forecast for EUR/USD on June 6, 2025

Yesterday, the ECB as expected cut key rates by a quarter point, bringing the refinancing rate to 2.15%. At the press conference, ECB President Christine Lagarde stated that rates have
Laurie Bailey 08:21 2025-06-06 UTC+2

Forecast for GBP/USD on June 6, 2025

GBP/USD Amid yesterday's brief optimism over the ECB's decision to cut rates and nearly complete the easing cycle, the pound almost reached the target level of 1.3635. Today began neutrally
Laurie Bailey 08:17 2025-06-06 UTC+2

Forecast for USD/JPY on June 6, 2025

As of this morning, the USD/JPY pair has found itself in a completely dual situation, with an equal likelihood of both growth and decline. Indicators suggesting growth include the price
Laurie Bailey 08:13 2025-06-06 UTC+2

Trading Signals for EUR/USD for June 6-10, 2025: buy above 1.1080 (200 EMA - 6/8 Murray)

The eagle indicator is showing a negative signal, so we believe that if the euro falls below the 6/8 Murray level in the coming hours, it will be seen
Dimitrios Zappas 07:04 2025-06-06 UTC+2

Trading Signals for GOLD (XAU/USD) for June 6-10, 2025: buy above $3,365 (21 SMA - 7/8 Murray)

On the other hand, gold is expected to undergo a technical correction. On May 30, it left a gap around 3,284, and if it consolidates below 3,350, it could likely
Dimitrios Zappas 07:01 2025-06-06 UTC+2

Top analytics

Relevance up to 23:00 2025-06-06 UTC--5
Forecast for EUR/USD on June 6, 2025
08:21 2025-06-06
Technical analysis
Relevance up to 13:00 UTC--5
The EU Economy Will Not Suffer, According to Lagarde
02:56 2025-06-06
Fundamental analysis
Relevance up to 22:00 2025-06-06 UTC--5
Forecast for GBP/USD on June 6, 2025
08:17 2025-06-06
Technical analysis
Relevance up to 22:00 2025-06-06 UTC--5
Forecast for USD/JPY on June 6, 2025
08:13 2025-06-06
Technical analysis
Relevance up to 02:00 2025-06-07 UTC--5
Forecast for EUR/USD on June 6, 2025
11:09 2025-06-06
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.