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
28.05.2025 09:54 AM
GBP/USD – May 28th: How Will the FOMC Minutes Influence the Market?
Open trading account Open demo account

On the hourly chart, the GBP/USD pair continued its decline on Tuesday and consolidated below the 161.8% Fibonacci retracement level at 1.3520. This means that the downtrend could continue today toward the next target at 1.3425. A consolidation above 1.3520 or a rebound from 1.3425 would favor the pound and signal a return to growth, with 1.3620 as the next target.

This image is no longer relevant

The wave setup clearly indicates a bullish trend. The latest upward wave broke the previous high, while the most recent downward wave failed to break the previous low. Bulls may find it hard to sustain further growth without new tariff-related announcements from Donald Trump—but such news did emerge at the end of last week. On Monday, it was reported that the planned tariff hike was postponed, which allowed bears to go on the offensive, though only modestly.

On Tuesday, the news backdrop wasn't very favorable for the pound, with the day's only report supporting sellers (or the U.S. dollar). However, the bullish trend remains intact, and traders will turn their attention to the minutes of the May FOMC meeting later today. These minutes usually don't contain significant surprises, as key information is already conveyed in the post-meeting statement or through Jerome Powell's remarks. The FOMC Chair frequently outlines the Fed's views on inflation, growth, and monetary policy expectations. Therefore, no major revelations are expected from the minutes tonight.

Despite two days of selling, I believe bears will struggle to continue their advance. Still, the chart allows for a decline toward 1.3425. However, a true trend reversal to bearish territory would only be confirmed by a break below the previous wave low at 1.3248—a level that remains far out of reach for now. Trump's trade policy hasn't undergone significant changes, so the dollar remains unstable and unattractive to many traders.

This image is no longer relevant

On the 4-hour chart, the pair has consolidated above the 100.0% Fibonacci level at 1.3435, suggesting the upward trend may continue toward the next retracement level at 127.2% – 1.3795. There are no emerging divergences on any indicators today. The bullish trend remains strong and unchallenged—and may continue until greater clarity emerges regarding the global trade landscape. The fate of Trump's dollar is of little concern to the market; no one is trying to rescue the U.S. currency.

Commitments of Traders (COT) Report:

This image is no longer relevant

Sentiment among non-commercial traders was largely unchanged in the latest report. Long positions fell by 1,396 and short positions rose by 1,827. The bears have long lost their edge, and the gap between long and short positions is now 24,000 in favor of the bulls: 88,000 vs. 64,000.

In my view, the pound still has downward potential, but recent developments are gradually reshaping the market in the long term. Over the past three months, long positions rose from 65,000 to 88,000. Short positions dropped from 76,000 to 64,000.

With Trump in office, confidence in the dollar has eroded, and the COT data confirms that traders lack strong interest in buying the greenback. So regardless of the general news flow, the dollar continues to weaken under the influence of Trump's actions.

Economic Calendar – U.S. & U.K.:

  • U.S. – FOMC Meeting Minutes (18:00 UTC)

Only one major event is on the economic calendar for Wednesday. The news background could affect sentiment—but likely only in the evening.

GBP/USD Forecast & Trading Tips:

Short positions were valid upon the hourly close below 1.3520, targeting 1.3425. These trades can be held open today. Buy opportunities will arise from a rebound at 1.3425 (or 1.3435) with a target of 1.3520, or on a close above 1.3520, aiming for 1.3620.

Fibonacci Levels:

  • Hourly chart: 1.3205 – 1.2695
  • 4-hour chart: 1.3431 – 1.2104
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
Fundamental analysis
No News Is Already Good News Trade negotiations between the United States and China are set to continue for a second day, as both sides aim to ease tensions surrounding technology exports and rare earth elements
Jakub Novak
11:19 2025-06-10 +02:00
1015
Fundamental analysis
EUR/USD. Analysis and Forecast Today, the EUR/USD pair is under pressure, having failed to consolidate above the 1.1435 level and showing intraday declines toward the psychological level of 1.1400 and below, amid U.S. dollar
Irina Yanina
10:45 2025-06-10 +02:00
1885
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

Forecast for EUR/USD on June 10, 2025

On Monday, the EUR/USD pair traded sideways between the levels of 1.1380 and 1.1454, forming a range. Therefore, a rebound from the support zone of 1.1374–1.1380 would favor the euro
Samir Klishi 10:33 2025-06-10 UTC+2

GBP/USD. June 10th. Unemployment Rises in the UK

On the hourly chart, the GBP/USD pair on Monday made two rebounds from the 161.8% corrective level at 1.3520 but failed to start an upward movement. Today, on Tuesday
Samir Klishi 10:21 2025-06-10 UTC+2

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 UTC+2

Technical Analysis of Intraday Price Movement of GBP/JPY Cross Currency Pairs, Tuesday June 10, 2025.

On the 4-hour chart of the GBP/JPY cross currency pair, there are several interesting things can be seen. First, the price movement is moving above the WMA (21) which
Arief Makmur 05:59 2025-06-10 UTC+2

Forecast for EUR/USD on June 10, 2025

Monday passed calmly in the markets, and the main takeaway was the restoration of risk-related correlations. The euro bounced back from the daily MACD line support for the second consecutive
Laurie Bailey 04:52 2025-06-10 UTC+2

Forecast for GBP/USD on June 10, 2025

On Monday, the British pound closed with a small gain. This pattern has become common over the past week—growth marked by small white candles, while declines occur through extended black
Laurie Bailey 04:48 2025-06-10 UTC+2

AUD/USD Forecast for June 10, 2025

The Australian dollar has shown moderate growth of more than a figure over the past 10 days, but the Marlin oscillator's reluctance to follow this upward move is causing concern
Laurie Bailey 04:46 2025-06-10 UTC+2

Trading Signals for GOLD (XAU/USD) for June 9-12, 2025: sell below $3,350 (21 SMA - 7/8 Murray)

Early in the American session, gold is trading around 3,317, rebounding after reaching a low of 3,294 during the European session. On the H4 chart, gold could continue to rise
Dimitrios Zappas 15:23 2025-06-09 UTC+2

Trading Signals for EUR/USD for June 9-12, 2025: sell below 1.1415 (21 SMA - 6/8 Murray)

We believe the euro could continue to fall as a bearish continuation pattern is forming, but we should expect it to fall below 1.1400, which could then reach the bottom
Dimitrios Zappas 15:20 2025-06-09 UTC+2

EUR/USD. Analysis and Forecast

Today, the EUR/USD pair is attracting buyers, recovering part of Friday's losses amid a weaker U.S. dollar. From a technical perspective, the EUR/USD pair is currently showing resilience below
Irina Yanina 13:57 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.