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
21.04.2025 01:01 AM
British Pound: Weekly Preview
Open trading account Open demo account

This image is no longer relevant

Several fairly interesting reports were released in the UK, but they almost did not impact market participants' actions. Demand for the British pound increased on all five days except for the second half of Wednesday. On Wednesday, the UK published the most important inflation report, which showed a stronger-than-expected slowdown. The pound managed a minimal decline, although a stronger reaction could have been expected. Therefore, the new week's news flow may have only a limited impact on the GBP/USD pair.

The economic calendar includes the same usual business activity indices in the services and manufacturing sectors, which may decline in April, as well as retail sales, the volume of which could also drop. Thus, the British pound should not count on support from the economic backdrop. However, it does not currently need it, as the market continues to increase demand for the pound even on days when Donald Trump refrains from introducing new measures against the world that he deems "unfair" toward America. The only noteworthy event is the speech by Bank of England Governor Andrew Bailey, who may share the central bank's expectations for economic growth and inflation in the new trade reality.

Based on the above, the dollar's decline may continue even without new tariffs from Trump or strong data from the UK. Of course, we must also consider the news flow from the US, but I remind you that, at this point, nothing seems capable of saving the dollar. Even multiple hawkish statements from Jerome Powell and his open confrontation with the dovish-minded Trump have not affected the exchange rate of the American currency, which continues to fall rapidly and almost unopposed.

This image is no longer relevant

Wave analysis of EUR/USD

Based on the conducted analysis of EUR/USD, I conclude that the instrument continues to build a new upward trend section. Donald Trump's actions have reversed the previous downward trend. Therefore, the wave pattern will soon entirely depend on the position and decisions of the US president. This must constantly be kept in mind. Judging from the wave structure alone, I previously expected a three-wave correction in wave 2. However, wave 2 has already ended and took a single-wave form. Thus, the formation of wave 3 of the upward trend section has begun. Its targets could extend up to the 1.2500 level, but achieving them will depend solely on Trump.

This image is no longer relevant

Wave analysis of GBP/USD

The wave structure of GBP/USD has changed. We are now dealing with a bullish, impulsive trend segment. Unfortunately, under Donald Trump, the markets may experience numerous shocks and reversals that do not conform to wave patterns or technical analysis. The presumed wave 2 is now complete, as quotes have surpassed the peak of wave 1. Therefore, we can expect the formation of an ascending wave 3, with the next targets at 1.3345 and 1.3541—assuming that Trump's stance on trade policy doesn't make a 180-degree turn, for which there is no indication.

Core principles of my analysis:
  1. Wave structures should be simple and understandable. Complex patterns are difficult to trade and often prone to change.
  2. If you're unsure about what's happening in the market, it's better to stay out.
  3. There is never 100% certainty about market direction. Always use protective Stop Loss orders.
  4. Wave analysis can be combined with other forms of analysis and trading strategies.
Chin Zhao,
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
Fundamental analysis
What to Pay Attention to on June 10? A Breakdown of Fundamental Events for Beginners There are a few macroeconomic reports scheduled for Tuesday. The economic event calendars for both the Eurozone and the United States are empty, while the UK will release reports that
Paolo Greco
06:40 2025-06-10 +02:00
1615
Technical analysis
Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Tuesday June 10 2025. With the appearance of the Ascending Broadening Wedge pattern followed by the appearance of the Bearish 123 pattern, it gives an indication that in the near future EUR/USD
Arief Makmur
05:59 2025-06-10 +02:00
1420
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

What to Pay Attention to on June 10? A Breakdown of Fundamental Events for Beginners

There are a few macroeconomic reports scheduled for Tuesday. The economic event calendars for both the Eurozone and the United States are empty, while the UK will release reports that
Paolo Greco 06:40 2025-06-10 UTC+2

GBP/USD Overview – June 10: A New Trial for Trump

The GBP/USD currency pair showed no interesting movements on Monday. However, given the current situation in the U.S., it's hard to envision any growth for the dollar. It turns
Paolo Greco 04:11 2025-06-10 UTC+2

EUR/USD Overview – June 10: Riots, Protests, Unrest

The EUR/USD currency pair traded very sluggishly on Monday. That's unfortunate because the news background becomes more interesting each day. This time, the news was not about trade tariffs
Paolo Greco 04:11 2025-06-10 UTC+2

EUR/USD: Calm Before the Storm? The Market Awaits News from London

The EUR/USD pair continues to trade within a 100-pip price range of 1.1350–1.1450, bouncing between its boundaries. Buyers are trying to hold within the 1.14 area, while sellers
Irina Manzenko 00:38 2025-06-10 UTC+2

The Dollar Feels Its Strength

A strong economy means a strong currency. In early June, the U.S. economy began to look strong again. EUR/USD bears anticipate a correction in the current upward trend, prompted
Marek Petkovich 00:38 2025-06-10 UTC+2

Strong Employment Report Supports the Canadian Dollar

Net employment change in May amounted to +8.8 thousand jobs, exceeding April's growth and presenting very strong data, especially against expectations — a loss of about 15 thousand jobs
Kuvat Raharjo 15:05 2025-06-09 UTC+2

AUD/USD. Analysis and Forecast

At the beginning of the new trading week, the AUD/USD pair is showing steady upward momentum, recovering from a slight pullback and once again approaching the highs seen in November
Irina Yanina 14:51 2025-06-09 UTC+2

USD/JPY. Analysis and Forecast

The USD/JPY pair is showing moderate weakness on Monday, dropping toward the psychological level of 144.00. The decline is driven by a combination of factors, including the strengthening
Irina Yanina 14:05 2025-06-09 UTC+2

WTI - West Texas Intermediate. Analysis and Forecast

At the start of the new week, prices for West Texas Intermediate (WTI) crude oil are attempting to stay near Friday's highs. Senior U.S. officials, including Treasury Secretary Scott Bessent
Irina Yanina 14:02 2025-06-09 UTC+2

Old Donald the Fighter Seems to Have Broken Down (there is a likelihood of continued growth in CFD contracts #NDX and #SPX)

Despite all the hardships, uncertainty, and overall market tension, stock indices persistently climb higher. Investors believe that Donald Trump will have to back down and retreat in his confrontation with
Pati Gani 10:06 2025-06-09 UTC+2
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.