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 GBP/USD pair reversed a slight decline against the backdrop of moderate dollar weakness but has so far failed to hold above the round level of 1.3100. However, uncertainty regarding the upcoming UK budget and rising expectations of a December interest rate cut by the Bank of England remain a restraining factor for spot price growth.
From a technical perspective, the downward break of the important 200-day simple moving average (SMA) last month was seen as a key trigger for bears. Furthermore, oscillators on the daily chart remain deep in negative territory, confirming the likelihood of sellers appearing just above the round level of 1.3100, near the 9-day EMA. Surpassing this level could trigger a new wave of short-covering.
A subsequent move above the 9-day EMA would help GBP/USD reclaim the round level of 1.3200 and rise above intermediate resistance at 1.3250, aiming to return to the round level of 1.3300, where the technically significant 200-day SMA is currently located. A sustained move beyond this SMA would shift the short-term bias in favor of bulls, paving the way for significant upside in the near term.
On the other hand, the 1.3040–1.3030 level continues to provide immediate support before a drop toward the psychological level of 1.3000. A confident break below this level would expose the next important support around 1.2950, before GBP/USD potentially falls to the next round level of 1.2900 and lower.
*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।
