empty
29.05.2025 11:10 AM
Forecast for GBP/USD on May 29, 2025

On the hourly chart, the GBP/USD pair fell to the 1.3425 level on Wednesday. A rebound from this level would favor the pound and potentially lead to a rise toward the 161.8% Fibonacci retracement at 1.3520. A consolidation below 1.3425 would suggest a continuation of the decline toward the support zone at 1.3344–1.3357.

This image is no longer relevant

The wave structure still clearly indicates a bullish trend. The last upward wave broke the previous high, and the most recent completed downward wave did not break the previous low. However, further growth will be difficult without new announcements from Donald Trump regarding new or increased tariffs. Early Thursday morning, the U.S. Federal Trade Court overturned all of Trump's tariffs, stating that the U.S. president had exceeded his authority. While this doesn't mark the end of the tariff wars, it provides a significant boost to the bears.

Although Wednesday lacked impactful news, an "information bomb" hit Thursday night. The U.S. Court of International Trade ruled all of Trump's import tariffs illegal and struck them down. The court stated that the U.S. president had no right to impose sweeping tariffs bypassing Congress, as only Congress has that authority under the Constitution. Trump cited the International Emergency Economic Powers Act, but the court declared that it didn't grant him such powers. Trump immediately filed an appeal, but for now, all tariffs are considered canceled. This situation is telling—Trump's policies are facing opposition even within the U.S. The dollar received a powerful boost from this news.

This image is no longer relevant

On the 4-hour chart, the pair has consolidated above the 100.0% Fibonacci level at 1.3435. If it bounces from this level, the growth could resume toward the next retracement level at 127.2% – 1.3795. No emerging divergences are currently seen on any indicator. The bullish trend remains intact, but the new U.S. tariff news could lead bulls to exit the market.

This image is no longer relevant

The Commitments of Traders (COT) report for the last reporting week showed little change. The number of long positions held by speculators fell by 1,396, while short positions increased by 1,827. Bears have long lost their market advantage. The gap between long and short positions is now 24,000 in favor of the bulls: 88,000 vs. 64,000.

Despite short-term downward potential for the pound, recent events may shift the market outlook in the long term. Over the past three months, long positions have risen from 65,000 to 88,000, and short positions have dropped from 76,000 to 64,000. Under Trump, confidence in the dollar has weakened, and the COT data reflects limited interest in buying the dollar. Overall, despite the broader news background, the dollar continues to fall due to Trump's actions.

Economic Calendar for the U.S. and UK:

  • U.S. – Q2 GDP Change (12:30 UTC)
  • U.S. – Initial Jobless Claims (12:30 UTC)

Although Thursday's calendar includes two important U.S. reports, market sentiment will likely be driven by the court's decision on tariffs. The influence of this news may be very strong throughout the day.

GBP/USD Forecast and Trading Tips:

Short positions were possible after a close below 1.3520 on the hourly chart, with a target of 1.3425. That target has been met. A close below 1.3425 would justify holding short positions with a target of 1.3344–1.3357. Given the current news backdrop, long positions are not advisable.

Fibonacci grids were built from 1.3205 to 1.2695 on the hourly chart and from 1.3431 to 1.2104 on the 4-hour chart.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Bitcoin. El fortalecimiento del dólar podría dar un giro bajista al mercado de criptomonedas

Hoy, el mercado se centrará en la publicación del informe sobre la inflación en Estados Unidos, que se espera que muestre no solo que ha dejado de bajar, sino

Pati Gani 13:12 2025-06-11 UTC+2

Bitcoin. El logro de nuevos máximos puede detenerse

El precio del Bitcoin superó momentáneamente el nuevo nivel histórico de 111 000, pero no logró consolidarse por encima de él. El apoyo proviene, tanto para él como para

Pati Gani 10:53 2025-05-22 UTC+2

EUR/USD. El 12 de mayo. El conflicto en Ucrania podría llegar a su fin.

Buenos días, estimados traders. El par EUR/USD el viernes subió hacia la zona de resistencia 1,1265 – 1,1282, rebotó desde allí y giró a favor del dólar estadounidense. El proceso

Samir Klishi 10:27 2025-05-12 UTC+2

Pronóstico para el gas al 8 de abril de 2025

Gas natural (NG) Ni al final de la semana pasada, ni mucho menos al comienzo de la actual, la cotización del gas natural logró superar la resistencia de 4.200, reforzada

Laurie Bailey 08:11 2025-04-08 UTC+2

Pronóstico del gas para el 17 de marzo de 2025

Gas natural (NG) La jornada de hoy se abrió por encima de la línea indicadora Kruzenshtern en el marco diario. Al mismo tiempo, el oscilador Marlin cambió de dirección hacia

Laurie Bailey 07:02 2025-03-17 UTC+2

Pronóstico para el Bitcoin el 21 de febrero de 2025

Bitcoin El Bitcoin ha cambiado de opinión sobre el desarrollo de una caída hacia soportes objetivos cómodos, y en su lugar, siguiendo el sentimiento de riesgo general, ha revertido desde

Laurie Bailey 07:23 2025-02-21 UTC+2

Bitcoin - análisis técnico de la situación

Viernes, y el Bitcoin sigue esperando. Ninguna de las partes enfrentadas tiene prisa por presentarse y ser activa. En la incertidumbre actual, el posicionamiento de los principales índices de referencia

Evangelos Poulakis 07:45 2025-02-14 UTC+2

Previsión para el gas natural (GN) del 5 de febrero de 2025

En el gráfico semanal la semana pasada el precio se revirtió desde el nivel de soporte 3.017 - desde los máximos de septiembre 2024, agosto 2023, febrero 2023 y también

Laurie Bailey 07:51 2025-02-05 UTC+2

#NDX - análisis técnico de la situación

A finales del año pasado, el índice marcó un nuevo máximo histórico (22141), tras lo cual se detuvo la subida, comenzó la formación de la corrección y la consolidación. Ahora

Evangelos Poulakis 07:24 2025-02-04 UTC+2

Bitcoin 30 Enero - análisis técnico de la situación

A pesar de marcar un nuevo máximo la semana pasada (109986), el Bitcoin detuvo su tendencia alcista y comenzó a formar incertidumbre. Hasta ahora, el formato semanal ha proyectado

Evangelos Poulakis 07:24 2025-01-30 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

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.