Top.Mail.Ru
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
08.04.2025 12:58 AM
The Pound Attempts to Hold Within the Bullish Channel
Open trading account Open demo account

The United Kingdom is among the few G20 countries that got off relatively lightly—it was hit with a 25% tariff on car exports and a 10% tariff on other goods. This is significantly lower than the new tariffs imposed on China, the EU, or Japan, giving the British economy a fair chance to benefit, at least marginally, from the changing trade landscape.

This image is no longer relevant

As of 2023, the UK exported £60.4 billion worth of goods to the United States, accounting for 15.3% of its total exports. Now, exporters face a tough choice—either lower prices to remain competitive or reduce output in anticipation of weaker demand. The former seems unlikely, considering the increase in the minimum wage and cost of living, meaning businesses will most likely cut production. This, in turn, will lead to job losses and rising unemployment.

A decline in exports will also put downward pressure on the British pound. Additionally, increased demand for the U.S. dollar as a safe haven is likely. The only factor that could halt this process is the swift onset of a recession in the U.S.—and it would need to happen before similar slowdowns take hold in the countries facing higher U.S. import tariffs.

Meanwhile, the UK imported £57.9 billion worth of goods and £57.4 billion in services from the U.S. in 2023. These will now become more expensive, contributing to higher inflation. The Bank of England has declared a gradual and cautious approach to rate cuts. However, in light of this new threat and rising inflation expectations, rates may be elevated for a longer period. This will add pressure to GDP but could support the pound, especially as market expectations for Federal Reserve rate cuts are shifting toward a faster timeline.

The net long position on GBP declined by £0.8 billion over the reporting week, to £2.8 billion. Positioning remains bullish for now, but the calculated price dynamic—still holding above the long-term average—is beginning to turn bearish.

This image is no longer relevant

Last week, the pound reached a six-month high but saw a sharp pullback on Friday that continued into the start of the new week. GBP failed to consolidate above 1.3013, retreating to the technical support level of 1.2782 (38% of the year-to-date gains). The 1.2780–1.2810 support zone is quite significant, and the pound's next moves largely depend on whether it holds this level. A drop below could open the way to 1.2650. If the pound holds above support, a wide trading range between 1.2780 and 1.3200 may form, where GBP could consolidate for some time as the market repositions itself in response to the new global trade realities.

Kuvat Raharjo,
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
Crypto-currencies
Trading Recommendations for the Cryptocurrency Market on April 23 Bitcoin has successfully pushed above $90,000, while Ethereum added more than 10% in just one day, rebounding to $1800. The main catalyst was Donald Trump's statement yesterday, clarifying that firing
Miroslaw Bawulski
09:03 2025-04-23 +02:00
1180
Forecast
USD/JPY: Simple Trading Tips for Beginner Traders on April 23. Review of Yesterday's Forex Trades The price test at 140.68 occurred when the MACD indicator had already moved significantly above the zero line, which, in my view, limited the pair's upside potential. For this reason
Jakub Novak
08:48 2025-04-23 +02:00
1150
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

What to Pay Attention to on April 23? A Breakdown of Fundamental Events for Beginners

A considerable number of macroeconomic events are scheduled for Wednesday. All of them are Purchasing Managers' Index (PMI) reports for April in the services and manufacturing sectors. The indices will
Paolo Greco 07:01 2025-04-23 UTC+2

GBP/USD Overview – April 23: The British Pound Can't Stop Smiling

On Tuesday, the GBP/USD currency pair traded much more calmly, yet again showed signs of a "maxed-out flat" pattern. As previously noted, the US dollar has only had two behaviors
Paolo Greco 04:56 2025-04-23 UTC+2

EUR/USD Overview – April 23: Another Calm Before Another Collapse?

The EUR/USD currency pair traded more calmly on Tuesday than on Monday. The US dollar managed to avoid another fall, but it's too early to celebrate. The greenback can collapse
Paolo Greco 04:56 2025-04-23 UTC+2

USD/JPY. On the Threshold of the 139th Figure

The USD/JPY pair has been in a consistent downtrend for the fourth consecutive week. On Tuesday, sellers pushed the pair to the edge of the 139.00 area, hitting the lowest
Irina Manzenko 00:46 2025-04-23 UTC+2

The Dollar Has Been Replaced. Nature Abhors a Vacuum

Fear paralyzes, but action persists. Investors are slowly overcoming their concerns over Donald Trump's attacks on the independence of the Federal Reserve and are starting to lock in profits
Marek Petkovich 00:08 2025-04-23 UTC+2

Bitcoin Took Its Chance

Slow and steady wins the race! Bitcoin quietly broke through to its highest levels since early March amid Donald Trump's attacks on Jerome Powell. When the independence of the Federal
Marek Petkovich 00:08 2025-04-23 UTC+2

XAU/USD. Analysis and Forecast

After setting a new all-time high at $3500 under overbought conditions, gold prices are pulling back. Nevertheless, bullish sentiment remains strong due to persistent concerns over the potential economic fallout
Irina Yanina 19:02 2025-04-22 UTC+2

EUR/GBP. Analysis and Forecast

The EUR/GBP pair is losing ground today after two consecutive days of gains, trading near the psychological level of 0.8600. The pound is receiving support from optimism surrounding ongoing trade
Irina Yanina 11:52 2025-04-22 UTC+2

Why the U.S. Dollar Keeps Falling

The U.S. dollar fell to its lowest level since January 2024 after President Donald Trump's criticism of the Federal Reserve sparked concerns over the central bank's independence. The dollar weakened
Jakub Novak 11:12 2025-04-22 UTC+2

Loss of Confidence in the Fed Will Pressure the Dollar (Bitcoin Likely to Continue Rising, USD/CAD to Decline)

On Monday, the U.S. stock market experienced a sharp decline, pulling down many global exchanges, as the "turbulent" actions of President Trump continue to shift from one hot topic
Pati Gani 09:00 2025-04-22 UTC+2

Top analytics

Relevance up to 22:00 2025-04-23 UTC--4
Trading Recommendations and Analysis for GBP/USD on April 23: Has the Market Remembered Where the "Sell" Button Is?
04:29 2025-04-23
Trading plan
Relevance up to 22:00 2025-04-23 UTC--4
EUR/USD Overview – April 23: Another Calm Before Another Collapse?
04:56 2025-04-23
Fundamental analysis
Relevance up to 00:00 2025-04-24 UTC--4
How to Trade the EUR/USD Pair on April 23? Simple Tips and Trade Analysis for Beginners
06:45 2025-04-23
Trading plan
Relevance up to 22:00 2025-04-23 UTC--4
GBP/USD Overview – April 23: The British Pound Can't Stop Smiling
04:56 2025-04-23
Fundamental analysis
Relevance up to 23:00 2025-04-24 UTC--4
Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Wednesday, April 23, 2025.
06:37 2025-04-23
Technical analysis
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.