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
17.03.2022 12:29 PM
Analysis and trading tips for GBP/USD on March 17
Open trading account Open demo account

Analysis of transactions in the GBP / USD pair

Although yesterday was not the most profitable for GBP/USD, traders managed to avoid huge losses, thanks to the rebound that occurred in the market in the afternoon. It brought about 20 pips of profit, offsetting the minus seen during the deals around 1.3065 and 1.3046.

This image is no longer relevant

Led by Jerome Powell, Fed officials voted 8-1 to raise the key rate to 0.25% - 0.5%. This is the first increase since 2018, leading to a brief rise in dollar demand. But since traders already expected this change, risk appetite returned shortly, turning up GBP/USD.

Another big day awaits the markets today as the Bank of England will release its own decision on interest rates. Many expect to see an increase to 0.75%, which, if really happens, will prompt another rally in pound.

In the afternoon, the US will publish reports on building permits, home foundation and industrial output. Strong performance across the board will confirm the robust state of the economy, while weaker data will put pressure on the dollar. The thing that would increase risk appetite is news related to the negotiations in Ukraine

For long positions:

Buy pound when the quote reaches 1.3165 (green line on the chart) and take profit at the price of 1.3220 (thicker green line on the chart). A rally may occur today after the release of results of the Bank of England meeting. But before buying, make sure that the MACD line is above zero, or is starting to rise from it. It is also possible to buy at 1.3125, however, the MACD line should be in the oversold area as only by that will the market reverse to 1.3165 and 1.3220.

For short positions:

Sell pound when the quote reaches 1.3125 (red line on the chart) and take profit at the price of 1.3062. Pressure will return if the Bank of England takes a very soft approach on monetary policy, however, that is very unlikely because inflationary pressure is high at the moment.

In any case, before selling, make sure that the MACD line is below zero, or is starting to move down from it. Pound can also be sold at 1.3165, however, the MACD line should be in the overbought area, as only by that will the market reverse to 1.3125 and 1.3062.

This image is no longer relevant

What's on the chart:

The thin green line is the key level at which you can place long positions in the GBP/USD pair.

The thick green line is the target price, since the quote is unlikely to move above this level.

The thin red line is the level at which you can place short positions in the GBP/USD pair.

The thick red line is the target price, since the quote is unlikely to move below this level.

MACD line - when entering the market, it is important to be guided by the overbought and oversold zones.

Important: Novice traders need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decisions based on the current market situation is an inherently losing strategy for an intraday trader.

Jakub Novak,
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
Wave analysis
Analysis for GBP/USD on March 21, 2025 The wave structure for GBP/USD remains somewhat ambiguous, but overall manageable. At present, there's still a high probability of a long-term downward trend developing. Wave 5 has taken
Chin Zhao
19:42 2025-03-21 +02:00
2065
Wave analysis
Analysis for EUR/USD on March 21, 2025 The EUR/USD pair saw no change on Friday. There was no news background in the direct sense of the word today, so the market had nothing to respond
Chin Zhao
19:39 2025-03-21 +02:00
1870
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

USDJPY: Simple Trading Tips for Beginner Traders on March 21st (U.S. Session)

Trade Review and Tips for Trading the Japanese Yen The test of the 149.34 level occurred when the MACD indicator had just started moving downward from the zero line, confirming
Jakub Novak 18:30 2025-03-21 UTC+2

GBPUSD: Simple Trading Tips for Beginner Traders on March 21st (U.S. Session)

Trade Review and Tips for Trading the British Pound No tests of the key levels I indicated occurred in the first half of the day. The reason was low market
Jakub Novak 18:17 2025-03-21 UTC+2

EURUSD: Simple Trading Tips for Beginner Traders on March 21st (U.S. Session)

Trade Review and Tips for Trading the Euro There were no tests of the key levels I identified earlier today. The reason was low market volatility due to the absence
Jakub Novak 18:09 2025-03-21 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 21. Review of Yesterday's Forex Trades

The price test at 148.81 occurred when the MACD indicator had already moved significantly above the zero line, which limited the pair's upside potential. For this reason
Jakub Novak 08:16 2025-03-21 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 21. Review of Yesterday's Forex Trades

The price test at 1.2965 occurred when the MACD indicator moved significantly above the zero mark, limiting the pair's upside potential. For this reason, I did not buy the pound
Jakub Novak 08:16 2025-03-21 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 21. Review of Yesterday's Forex Trades

The price test at 1.0826 occurred when the MACD indicator had already moved significantly below the zero line, which limited the pair's downside potential. For this reason
Jakub Novak 08:16 2025-03-21 UTC+2

Intraday Strategies for Beginner Traders on March 21

The euro and the pound remained under pressure following the U.S. Federal Reserve meeting, where markets saw neither the expected active rate cuts nor hints of them. The strengthening
Miroslaw Bawulski 07:20 2025-03-21 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 20th (U.S. Session)

Trade Analysis and Recommendations for the Japanese Yen The 148.53 price test occurred when the MACD indicator was just starting to move upward from the zero mark, confirming a correct
Jakub Novak 18:34 2025-03-20 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 20th (U.S. Session)

Trade Analysis and Recommendations for the British Pound The 1.2976 price test occurred when the MACD indicator had already moved significantly below the zero mark, limiting the pair's downward potential
Jakub Novak 18:32 2025-03-20 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 20th (U.S. Session)

Trade Analysis and Recommendations for the Euro The 1.0887 price test coincided with a moment when the MACD indicator had already moved significantly below the zero mark, which limited
Jakub Novak 18:29 2025-03-20 UTC+2

Top analytics

Relevance up to 11:00 UTC--4
Analysis for GBP/USD on March 21, 2025
19:42 2025-03-21
Wave analysis
Relevance up to 08:00 2025-03-26 UTC--4
Trading Signals for EUR/USD for March 21-24, 2025: buy above 1.0810 (+1/8Murray - rebound)
14:22 2025-03-21
Technical analysis
Relevance up to 08:00 UTC--4
Trading Signals for GOLD (XAU/USD) for March 21-24, 2025: buy above $3,026 (7/8 Murray - 61.8%)
14:04 2025-03-21
Technical analysis
Relevance up to 02:00 2025-03-26 UTC--4
Fed's actions to keep BTC from falling? BTC seeks stability
14:11 2025-03-21
News
Relevance up to 02:00 2025-03-24 UTC--4
US market in consolidation phase. Trump seeks Senate backing for Iran strikes
11:10 2025-03-21
Stock Markets
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.