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!
The GBP/USD pair managed to approach the psychological level of 1.3000 yesterday, where there was a regular stop and, as a result, the price rebounded in the opposite direction.
The psychological level is a price level that ends at zero or several zeros. For example, if we are talking about the pound/dollar currency pair, then round levels are considered to be: 1.3100; 1.3000; 1.0000.
Traders pay more attention to the level with more zeros at the end of the quote. This, in turn, leads to a natural basis in the form of a stop, pullback, or correction.
In our case, the psychological level of 1.3000 acted as a support, stopping the pound to decline.
Regarding the quote's current location, you can see that although sellers have lowered the volume of sell positions, they are still available on the market; otherwise, the quote was not near the level of 1.3000.
We can assume that the risk of next rebounds from the level of 1.3000 will remain in the market, which will cause the volume of short positions to decline, as long as the quote does not consolidate below 1.2990 in the H4 time frame.
A price consolidation below 1.2990 level activates sellers to take action, which will lead to an increase in the volume of positions and movement along a downward course.
Trading forecasts can be made based on the above information:
*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.
