This section features the most important information about trading with InstaForex. We provide both analysis from leading experts for experienced traders and articles on trading conditions for beginners. Our services will help increase your profit potential.
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.
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.
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.
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.
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.
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.
The British pound continued to rise against the US dollar after the Bank of England reassured traders with a statement that negative interest rates currently seem less effective than other measures. Although it was not possible to achieve the formation of a convenient entry point to the market, now the situation with what to do next is more or less outlined. The bulls have a clear task to protect the new support of 1.3143, and the next formation of a false breakout at this level will be an additional signal to open long positions in the expectation of continuing the upward trend. In this case, the nearest target of the bulls will be a maximum of 1.3228, where I recommend fixing the profits. The longer-term target remains the resistance of 1.3265. If the bears in the second half of the day pull the blanket to their side and return the pair to the support of 1.3143, then it is best not to rush to open long positions, but wait for the test of the minimum of 1.3059, where you can buy the pound immediately on the rebound in the expectation of a correction of 30-40 points within the day. Larger players may even retreat to the lower limit of the 1.2980 channel.
To open short positions on GBPUSD, you need:
Sellers continue to experience difficulties. Their main task for the second half of the day is to break through and consolidate below the support of 1.3143, which was formed recently. Only this scenario will create a good entry point into short positions and allow you to count on the return of GBP/USD to the support area of 1.3059, where I recommend fixing the profits. The lower border of the 1.2980 side channel remains the farthest target of the bears. If the bulls continue the upward trend in the pound, it is best to consider short positions after updating the maximum of 1.3228 or sell GBP/USD immediately on the rebound from the larger resistance of 1.3265 in the calculation of a correction of 30-40 points within the day.
Signals of indicators:
Moving averages
Trading is conducted above the 30 and 50 daily averages, which indicates further growth of the pound.
Note: The period and prices of moving averages are considered by the author on the hourly chart H1 and differ from the general definition of the classic daily moving averages on the daily chart D1.
Bollinger Bands
If the pair falls, the lower border of the indicator around 1.3095 will provide support.
Description of indicators
Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
Bollinger Bands (Bollinger Bands). Period 20
Non-profit speculative traders, such as individual traders, hedge funds, and large institutions that use the futures market for speculative purposes and meet certain requirements.
Long non-commercial positions represent the total long open position of non-commercial traders.
Short non-commercial positions represent the total short open position of non-commercial traders.
Total non-commercial net position is the difference between short and long positions of non-commercial traders.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Deposit your account with $3,000 and get $8000 more! In March we raffle $8000 within the Chancy Deposit campaign! Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.