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!
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GBP/USD
After moving in a wide-range following the European Central Bank meeting (the pound closed the day up by 12 pips), today it faces another challenge due to the release of several data on GDP, industrial production, and construction. Forecasts for key data suggest weakness: construction output for February at -0.4%, GDP at -0.4% y/y, industrial production at 0.0%, with no signs of improvement in the trade balance.
On the daily chart, the pound continues to correct higher after a sharp decline on Thursday. Today's data could bring back the downward movement - along the main trend. The signal line of the Marlin oscillator is also correcting in the upper half of its own descending channel. We expect the price to aim for 1.2460 and work with the signal line of the oscillator at the lower boundary of the channel.
On the 4-hour chart, Marlin is easing tension from the oversold zone. The first resistance for the correction is the MACD line around the 1.2577 mark, which coincides with yesterday's high. If today's reports turn out to be better than forecasts, the pound could aim for 1.2596.
*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।
