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!
Today, the central bank of the United Kingdom – the Bank of England – will hold its policy meeting. The central bank is expected to cut the key interest rate by 0.25%, from 4.25% to 4.00%, in response to falling inflation and worsening economic conditions in the country. This could have a notably negative impact on the GBP/USD pair, despite the apparent weakness of the U.S. dollar due to growing expectations of a Federal Reserve rate cut at its September meeting. However, the downside may be limited.
From a technical standpoint, the price is testing the local resistance level at 1.3380. If it fails to break above it, or rises above and then drops back below it, a limited decline in the pair should be expected.
The price is trading above the upper Bollinger Band, above the 5-day and 14-day SMAs. The RSI is above the 50% level and continues to rise. The Stochastic indicator is already in overbought territory.
Failure of the pair to hold above the 1.3380 level may lead to a corrective decline toward 1.3180. The 1.3360 level could serve as an entry point for selling the pair.
*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।
