Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
GBP/USD is trading close to 1.3250, extending the bounce flat amid the risk-on action in the European equities. Hawkish Fed expectations underpin the greenback and may cap gains amid Brexit uncertainties. Focus on Omicron updates and BOE-speak.
From a technical viewpoint, Friday's downfall confirmed a near-term bearish break through a short-term descending channel extending from July. That said, the pair's ability to defend the 1.3200 mark warrants some caution for aggressive bearish traders. Hence, it will be prudent to wait for some follow-through selling below the mentioned handle before positioning for any further depreciating move. The pair might then accelerate the downfall towards the next relevant support near the 1.3125 region en-route the 1.3100 mark and the 1.3050-45 region.
On the flip side, any subsequent move up is likely to confront a stiff resistance near the 1.3300 round figure. A sustained move beyond will suggest that the pair has formed a near-term base near the 1.3200 mark and pave the way for additional near-term recovery. The pair might then accelerate the recovery momentum towards the 1.3340-50 supply zone en-route the 1.3370 area and the 1.3400 level. The latter should act as a key barrier, which if cleared decisively will negate any near-term bearish bias.
*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.