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
03.06.2025 11:05 AM
Forecast for GBP/USD on June 3, 2025
Open trading account Open demo account

On the hourly chart, the GBP/USD pair on Monday consolidated above the 161.8% retracement level at 1.3520. Thus, the pound's upward movement may continue today and throughout the week toward the next level at 1.3620, especially in the case of a rebound from this level from above. Consolidation below 1.3520 would suggest a reversal in favor of the US dollar and a potential decline toward 1.3425.

This image is no longer relevant

The wave structure clearly points to the continuation of the bullish trend. The last upward wave broke through the previous peak, and the last downward wave did not break the previous low. Bulls may find it difficult to rely on further growth without new announcements from Donald Trump regarding tariff hikes or new import duties, but the US president seems determined to continue escalating the trade war with China. Therefore, bulls have reasons for new attacks this week.

On Monday, the UK's Manufacturing PMI for May came in at 46.4 points. Although low, it was still better than traders had expected. Meanwhile, the US Manufacturing PMI was below forecasts (only 52.0 points), and the ISM Manufacturing Index came in at 48.5, significantly worse than expected. Thus, even without new tariff hike news from the US, the bears had every reason to retreat on Monday. Recently, the news background for the dollar has deteriorated again, as minor signs of the end of the trade war have not led to any tangible results. No trade agreements are in sight, the trade war with China may reverse from de-escalation, tariffs are being raised again, and there is no news about negotiations with China or the European Union. Traders have no reason to change their trading strategies, which have been working well for several months.

This image is no longer relevant

On the 4-hour chart, the pair consolidated above the 100.0% Fibonacci level at 1.3435 and rebounded from it from above. Thus, the growth process may continue toward the next retracement level at 127.2% — 1.3795. No emerging divergences are observed on any indicator today. The bullish trend still raises no doubts, but a close below 1.3435 would suggest a decline toward the 76.4% retracement level at 1.3118.

Commitments of Traders (COT) Report:

This image is no longer relevant

The sentiment of the "Non-commercial" trader category became much more bullish over the last reporting week. The number of Long positions held by speculators increased by 14,247, while the number of Short positions rose by only 2,861 units. Bears have long since lost their advantage in the market. The gap between the number of Long and Short positions now stands at 35,000 in favor of the bulls: 102,000 versus 67,000.

In my view, the pound still has downside prospects, but recent developments are shifting the market's long-term outlook. Over the past three months, the number of Long positions has risen from 65,000 to 102,000, while Short positions have decreased from 76,000 to 67,000. Under Donald Trump, confidence in the dollar has been shaken, and COT reports show that traders have little appetite for buying the dollar. Thus, regardless of the overall news background, the dollar continues to decline due to events surrounding Donald Trump.

Economic Calendar for the US and UK:

  • USA – JOLTS Job Openings (14:00 UTC).

On Tuesday, the economic calendar contains only one entry. The impact of the news background on traders' sentiment may be very weak today.

GBP/USD Forecast and Trading Recommendations:

Sales of the pair are possible today if it closes on the hourly chart below 1.3520 with a target at 1.3425. Purchases are possible on a rebound from 1.3520 on the hourly chart with a target at 1.3620.

Fibonacci grids are built from 1.3205–1.2695 on the hourly chart and from 1.3431–1.2104 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
Analytical News
Iran attacks exacerbate oil crisis: S&P 500 freezes ahead of key US data US attacks on Iran raise concerns about oil, retaliation S&P 500 near February highs but showing signs of stagnation Rising oil prices raise concerns about inflation, Fed policy Investors look
Thomas Frank
12:44 2025-06-23 +02:00
2080
Analytical News
US Market News Digest for June 23 Geopolitical tensions weigh on markets Investors remain cautious amid escalating Middle East tensions, awaiting potential Iranian retaliation. While market reactions have been muted so far, further conflict escalation could trigger
Ekaterina Kiseleva
12:31 2025-06-23 +02:00
1345
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

Forex forecast 23/06/2025: EUR/USD, GBP/USD, USDX, 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 12:08 2025-06-23 UTC+2

Technical Analysis for the Week of June 23–28: GBP/USD Currency Pair

Last week, the pair moved downward and tested the 14.6% pullback level at 1.3392 (red dashed line), after which the price rebounded and closed the weekly candle at 1.3446
Stefan Doll 11:38 2025-06-23 UTC+2

Technical Analysis for the Week of June 23–28: EUR/USD Currency Pair

Last week, the pair moved downward and tested the 76.4% pullback level at 1.1452 (red dashed line), after which the price rebounded and closed the weekly candle at 1.1520
Stefan Doll 11:31 2025-06-23 UTC+2

Forecast for EUR/USD on June 23, 2025

On Friday, the EUR/USD pair continued to rise after rebounding from the 76.4% corrective level at 1.1454. However, on Monday night, the pair returned to this level. A new rebound
Samir Klishi 11:24 2025-06-23 UTC+2

Forecast for GBP/USD on June 23, 2025

On the hourly chart, the GBP/USD pair on Friday consolidated below the support zone of 1.3425–1.3444, once again allowing for the expectation of a continued decline toward the support level
Samir Klishi 11:19 2025-06-23 UTC+2

Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Monday June 23, 2025.

16473.27 Currently on the Daily chart, the Exotic USD/IDR currency pair has a Bullish 123 pattern which indicates that USD/IDR is currently strengthening, where this is also confirmed
Arief Makmur 07:29 2025-06-23 UTC+2

Technical Analysis of Intraday Price Movement of Crude Oil Commodity Instrument, Monday June 23, 2025.

In addition to the appearance of Divergence between the price movement of Crude Oil and the Stochastic Oscillator indicator on the 4-hour chart, there is also a Bearish 123 pattern
Arief Makmur 07:29 2025-06-23 UTC+2

EUR/USD Forecast for June 23, 2025

A bearish divergence has formed on the weekly chart for the euro. We are preparing for a reversal into a long-term downward trend, but divergences with a gap often unfold
Laurie Bailey 05:00 2025-06-23 UTC+2

GBP/USD Forecast for June 23, 2025

The British pound opened the new week with a downward gap, which still preserves bullish optimism. There remains potential for the price to return above the resistance level at 1.3433
Laurie Bailey 04:56 2025-06-23 UTC+2

Oil Forecast for June 23, 2025

On the weekly chart, the signal line of the Marlin oscillator has begun to reverse from the 9.3600 level. Historically, this level has marked significant downward reversals—in April 2023, October
Laurie Bailey 04:56 2025-06-23 UTC+2

Top analytics

Relevance up to 02:00 2025-06-24 UTC--5
Forecast for EUR/USD on June 23, 2025
11:24 2025-06-23
Technical analysis
Relevance up to 01:00 2025-06-24 UTC--5
EUR/USD: Simple Trading Tips for Beginner Traders on June 23. Analysis of Yesterday's Forex Trades
08:41 2025-06-23
Forecast
Relevance up to 21:00 2025-06-23 UTC--5
GBP/USD Forecast for June 23, 2025
04:56 2025-06-23
Technical analysis
Relevance up to 21:00 2025-06-23 UTC--5
EUR/USD Forecast for June 23, 2025
05:00 2025-06-23
Technical analysis
Relevance up to 01:00 2025-06-24 UTC--5
Intraday Strategies for Beginner Traders on June 23
08:34 2025-06-23
Forecast
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.