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!
The British pound is trading around 1.3414, above the 21-day SMA and below the 200-day EMA, with a bullish bias but showing signs of exhaustion. The Murray 4/8 pivot level represents a bearish zone for the British pound. If it remains below this area, it could exert downward pressure.
Yesterday, during the Asian session, the British pound attempted to break the downtrend channel around 1.3460 but was unable to overcome this strong resistance. Since then, we have observed a technical correction. The decline could continue if the British pound falls below the key 1.3400 level.
If the British pound falls toward the key 3/8 Murray support zone around 1.3370 in the coming hours, this zone could be seen as an opportunity to open long positions, as this area could also coincide with the lower band of the uptrend channel.
Conversely, if the British pound rebounds above 1.34 and consolidates above the 200 EMA, a bullish scenario could develop. We could look for opportunities to buy above this zone, with targets at the 5/8 Murray level around 1.3488. Moreover, we could expect GBP/USD to reach the upper band of the uptrend channel around 1.3500.
Our trading plan is to wait for the British pound to reach the support level at 1.3366 or to buy above 1.3437, and then let price action guide our next move.
*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।
