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 wave structure for the GBP/USD pair continues to indicate the formation of a bullish impulse wave pattern. The wave configuration closely mirrors that of EUR/USD. Until February 28, the market had been forming a clear corrective structure that left little room for doubt. However, demand for the U.S. dollar then began to decline rapidly, culminating in a trend reversal. Wave 2 of this uptrend took the form of a single wave. Inside the presumed Wave 3, sub-waves 1 and 2 have formed. Therefore, further appreciation of the British pound can be expected as part of Wave 3 within 3 — which is exactly what we're seeing.
It's important to remember that at the moment, much of what happens in the currency market depends on Donald Trump's policies. Positive news may emerge from the U.S., but the market remains focused on the overarching uncertainty in the economy, Trump's contradictory decisions, and the White House's hostile and protectionist foreign stance. As a result, the dollar needs significant effort to convert even positive news into increased demand.
On Thursday, the GBP/USD pair did not lose a single basis point despite extremely strong news flow. Once again, the market essentially ignored positive U.S. news. After all, it's not every day that a court invalidates sweeping presidential decisions involving hundreds of billions of dollars.
The U.S. Court of International Trade ruled to overturn most of Donald Trump's tariffs, citing their illegality. It's worth noting that the court did not delve into the motives behind the tariffs or their economic effects. In other words, years from now it might turn out that Trump was right and the tariffs did in fact support U.S. economic growth. But that wasn't the court's concern — and no one can predict the future. The court ruled solely on legal grounds: the president does not have unilateral authority to impose tariffs. Whether Trump was fighting illegal fentanyl trafficking or perceived trade injustice, he simply lacks the legal power to act alone.
Yet the market's reaction was quite muted. In my view, market confidence in the dollar — and in the U.S. — has been shaken, if not permanently, then for the foreseeable future. Many market participants now expect Trump to pursue every legal avenue to find a court that will overturn the repeal. Few doubt he'll succeed in doing so. In other words, few truly believe that the entire tariff saga will end so quietly and trivially. This is why demand for the U.S. dollar has barely increased, and the outlook for the upward trend remains largely unchallenged.
The wave pattern for GBP/USD has transformed. We're now dealing with a bullish impulse segment of the trend. Unfortunately, under Donald Trump, markets may face numerous shocks and reversals that won't align with any wave count or technical analysis. But for now, everything is unfolding according to the updated bullish scenario. The development of Wave 3 continues, with immediate targets at 1.3541 and 1.3714. Therefore, I continue to favor long positions, as the market shows no sign of a reversal.
At a higher wave scale, the pattern has also shifted to a bullish formation. Currently, the uptrend appears incomplete, and further upward movement is expected.
Core Principles of My Analysis:
*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।
