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 has gained traction and climbed to its strongest level in two weeks near 1.2500. The weaker-than-expected macroeconomic data releases and falling US yields cause the dollar to stay under constant selling pressure, helping the pair push higher.
The Fibonacci 23.6% retracement of the downtrend that started on April 21 and the 100-period SMA on the four-hour chart form significant resistance at 1.2400. If that level stays intact, it could be seen as a bearish development and trigger a slide toward 1.2330 (50-period SMA) and 1.2300 (psychological level).
On the flip side, GBP/USD could target 1.2450 (static level, former support) and 1.2500 (psychological level, static level) in case 1.2400 is confirmed as support.
*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.
