empty
17.04.2025 11:02 AM
GBP/USD Forecast for April 17, 2025

Yesterday, the UK released inflation data for March. Core CPI declined from 3.0% y/y to 2.8% y/y, and headline CPI dropped from 2.8% y/y to 2.6% y/y, below the forecast of 2.7% y/y. The attempt by the pound to rise toward the target level of 1.3311 was halted — the day ended with a gain of only 11 points, and this morning, the price is already moving into the 1.3184–1.3208 range.

This image is no longer relevant

However, the daily chart shows that the price has precisely tested the upper boundary of the upward price channel. This test occurred a day earlier than our projection, but the bulls have done their job, and everything is now set for a reversal.

The growth from January 13 to April 16 is perfectly described by the Fibonacci grid. The 23.6% retracement level coincides with our support at 1.3101, and the 38.2% level aligns with the target range of 1.2816/47. The Kruzenshtern line is also heading toward that zone. A break below this support could pave the way for a long-term decline in the pound.

This image is no longer relevant

On the four-hour chart, the price is attempting to enter the 1.3184–1.3208 support range as the Marlin oscillator reaches the boundary of the downward trend territory. A simultaneous breakout below support by both the price and the oscillator will strengthen the bearish momentum. The first target is 1.3101.

Laurie Bailey,
Analytical expert of InstaTrade
© 2007-2025

Recommended Stories

Trading Signals for EUR/USD for May 22-25, 2025: sell below 1.1286 (200 EMA - 21 SMA)

EUR/USD is trading around 1.1287 after attempting to break the top of the downtrend channel. The instrument is now consolidating around the 21 SMA, which suggests it could continue

Dimitrios Zappas 18:11 2025-05-22 UTC+2

Forecast for EUR/USD on May 22, 2025

On Wednesday, the EUR/USD pair continued to rise and consolidated above the 50.0% Fibonacci retracement level at 1.1320. As a result, the euro may continue appreciating toward the next resistance

Samir Klishi 11:51 2025-05-22 UTC+2

Forecast for GBP/USD on May 22, 2025

On the hourly chart, the GBP/USD pair continued rising on Wednesday, ending the day near the 1.3425 level. Just a couple of weeks ago, there was no sign of another

Samir Klishi 11:45 2025-05-22 UTC+2

Forex forecast 22/05/2025: EUR/USD, GBP/USD, USD/JPY, Gold, 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 10:52 2025-05-22 UTC+2

Bitcoin: Reaching New Highs May Stall

Bitcoin's price briefly exceeded the new all-time high of $111,000 but failed to consolidate above it. The token, along with the broader crypto market, continues to receive support from dollar

Pati Gani 09:49 2025-05-22 UTC+2

Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 22, 2025.

With the appearance of Divergence between the Nasdaq 100 index price movement which formed a Double Top with the Stochastic Oscillator indicator plus confirmation with its price movement which moved

Arief Makmur 07:01 2025-05-22 UTC+2

Technical Analysis of Intraday Price Movement of USD/CHF Main Currency Pairs, Thursday May 22, 2025

As we can see on the 4-hour chart of USD/CHF main currency pair, some interesting information appears, namely first the appearance of Divergence between the price movement of USD/CHF with

Arief Makmur 07:01 2025-05-22 UTC+2

EUR/USD Forecast for May 22, 2025

On Wednesday, the euro successfully consolidated above the 1.1266 level and the balance indicator line. The next target levels are 1.1420 and 1.1535. The Marlin oscillator is about to enter

Laurie Bailey 05:06 2025-05-22 UTC+2

GBP/USD Forecast for May 22, 2025

Yesterday's inflation data for April in the UK surprised market participants. Core CPI jumped from 3.4% y/y to 3.8% y/y versus an expected 3.6% y/y, while headline CPI reached 3.5%

Laurie Bailey 05:06 2025-05-22 UTC+2

USD/JPY Forecast for May 22, 2025

The USD/JPY pair has been declining for eight consecutive days — a pattern not seen since 2019. However, we recently saw two five-week declines in July 2024 and November–December 2023

Laurie Bailey 05:06 2025-05-22 UTC+2
Can't speak right now?
Ask your question in the chat.