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!
GBP/USD has almost reached the 1.3660 target, supported by fundamental factors.
The U.S. dollar weakened after a sharp decline in U.S. Treasury yields to three-month lows the previous day, which had a positive impact on GBP/USD.
The decline in yields resulted from intervention by the U.S. Treasury, which announced plans to at least double its purchases of long-term government bonds starting in September.
However, the FOMC's hawkish stance, which provides broader support for the dollar through expectations of higher interest rates, is helping to limit further dollar losses amid persistent geopolitical uncertainty caused by the confrontation between the United States and Iran over the Strait of Hormuz. In its latest statements, U.S. President Donald Trump said that Washington would impose stricter economic sanctions on Iran.
The British pound, by contrast, is receiving some support from UK consumer inflation data released on Wednesday, which strengthened expectations of a Bank of England rate hike of at least 25 basis points by the end of the year. This creates a positive backdrop for GBP/USD and, in the event of a possible correction, should discourage bears from taking aggressive positions.
Investors are currently focused on U.S. economic data, particularly the release of the Philadelphia Federal Reserve Manufacturing Index and the weekly report on initial jobless claims. In addition, comments from key FOMC members could support the U.S. dollar and influence GBP/USD dynamics. Moreover, upcoming geopolitical developments could contribute to increased volatility in financial markets.
From a technical perspective, GBP/USD is currently trading above all moving averages, which supports the bullish trend. The oscillators are positive, confirming the bulls' advantage. However, it is worth noting that the Relative Strength Index is close to the overbought zone, warning of a possible correction or consolidation. Overall, however, the path of least resistance remains upward.
The table below shows the percentage change in the U.S. dollar against the major currencies this week. The largest appreciation of the dollar was recorded against the Australian dollar.
*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।
