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!
Technical Market Outlook:
The GBP/USD pair has bounced from the level of 1.2121 and moved towards the 100 MA seen at 1.2198. The intraday technical support is still located at the level of 1.2121 and the intraday technical resistance is located at 1.2224. Please notice, that the mid-term outlook remains bearish due to the Bearish Cross of 50 and 100 DMA on the daily time frame chart. The next target for bears is seen at the level of1.2107 and 1.2036, but for now the bulls are trying to resume the up move and break higher towards the 50 MA and test the last swing high.
Weekly Pivot Points:
WR3 - 1.21913
WR2 - 1.21735
WR1 - 1.21667
Weekly Pivot - 1.21557
WS1 - 1.21489
WS2 - 1.21379
WS3 - 1.21201
Trading Outlook:
The bulls were rejected at the key technical resistance located at the level of 1.3163 and a breakout above this level is needed to extend the up trend towards the last Weekly swing high seen at 1.4248. The weekly time frame chart shows the Bearish Engulfing candlestick pattern was made during the breakout attempt above the 1.3163, so now the bears are in charge of the market. Any sustained breakout below the technical support seen at the level of 1.1802 would dramatically increase the chances of another leg down towards the level of 1.1494.
*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.
