The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Although it showed signs of cooling, in general, the labor market has remained unchanged. However, yesterday's trend may show serious progress today. Forecasts show that inflation in the United States is expected to accelerate from 3.1% to 3.2%. If these expectations are confirmed, it will mean that the Federal Reserve will not start its interest rate cut cycle until the summer, whereas the prevailing opinion is that it could happen as early as spring. If the market revises its expectations, this will inevitably strengthen the dollar. Moreover, the UK labor market data will only mount pressure on the pound. After all, the unemployment rate will likely increase from 3.8% to 3.9%.
The GBP/USD pair is going through a retracement phase where the quote reached the level of 1.2800. However, this movement did not lead to any crucial changes, and the upward cycle from mid-February persists.
On the four-hour chart, the RSI technical indicator has reached the overbought zone, which is at 82.48. As a result, the volume of long positions in the pound has decreased, which is logical in terms of technical analysis.
On the same chart, the Alligator's MAs are headed upwards, indicating an upward cycle.
In this situation, the level of 1.2800 acts as support, and selling volumes have decreased around this area. In case the retracement phase ends, the pound may recover its value, and even test the local high. The bearish scenario will come into play if the price settles below the aforementioned level, at least in the four-hour period. In this case, the volume of short positions may increase.
Complex indicator analysis points to a bounce from the level of 1.2800 in the short-term timeframe, while intraday indicators indicate a downtrend.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।