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 is easing towards 1.3850, undermined by mixed UK growth and industrial numbers. The cautious market mood lifts the US dollar's safe-haven demand, adding to the weight on the pair. Focus shifts to the US data.
GBP/USD bulls take a breather around 1.3870-65, after snapping a three-day uptrend amid Thursday's Asian session. The cable pair dropped to the lowest level in 12 days before bouncing off 1.3802 the previous day. In doing so, the quote portrays a bullish flag formation on the four-hour (4H) play. In addition to the upside favoring chart pattern, the pair's sustained trading above fibonacci 38.2% and steady RSI, modest as well, keep GBP/USD buyers hopeful.
However, a convergence of the flag's upper line and early July's top surrounding 1.3910 becomes strong resistance for the bulls to cross before aiming the previous month's high near 1.3985 and the 1.4000 threshold.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.