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!
Pivot : 1.3319.
The GBP/USD pair continues to move downwards from the level of 1.3319. The pair fell from the level of 1.3319 to the bottom around 1.3200.
But the pair has rebounded from the bottom of 1.3160 to close at 1.3200. Today, the first support level is seen at 1.3160, the price is moving in a bearish channel now.
Furthermore, the price has been set below the strong resistance at the level of 1.3319, which coincides with the 23.6% Fibonacci retracement level.
This resistance has been rejected several times confirming the veracity of a downtrend. Additionally, the RSI starts signaling a downward trend.
As a result, if the GBP/USD pair is able to break out the first support at 1.3160 , the market will decline further to 1.3061 in order to test the weekly support 2.
Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 1.3200 with the first target at 1.3160 and further to 1.3060 in coming hours.
Thus, amid the previous events, the price is still moving between the levels of 1.3200 and 1.3161. If the GBP/USD pair fails to break through the support level of 1.3061, the market will decline further to 1.3061 as as the third target.
On the contrary, if a breakout takes place at the resistance level of 1.3320, then this scenario may become invalidated.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
InstaSpot分析评论将让您充分了解市场趋势！ 作为InstaSpot的客户，您将获得大量的免费服务以实现有效的交易。
