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 dropped again after failing to stabilize above the 1.23 psychological level. Now, it is located at 1.2278 at the time of writing, above today's low of 1.2232. The bias remains bearish despite temporary rebounds as the Dollar Index is bullish.
Fundamentally, the German Retail Sales reported only a 0.4% growth versus the 0.5% growth estimated, Flash Services PMI came in at 47.2 points versus 49.3 points expected, while Flash Manufacturing PMI jumped from 43.0 to 44.2 points. Still, the manufacturing and services sectors remain in the contraction territory.
The US Flash Manufacturing PMI came in better than expected, but the sector remains in the contraction territory, while Flash Services PMI came in at 50.2 below 50.7 expected and below 50.5 in the previous reporting period, signaling a slowdown in expansion.
From the technical point of view, the GBP/USD pair is trapped between 1.2307 and 1.2236 levels. Dropping below the S1 (1.2320) signaled more declines.
Now, it has failed to make a new lower low, signaling exhausted sellers. So, the rate could try to test and retest the immediate resistance levels before going down.
False breakouts through the 1.2307 may announce a new sell-off and could bring us a new short opportunity. Still, only a new lower low, a bearish closure below 1.2236 activates more declines. This is seen as a selling signal.
*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。
