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!
The GBP/USD currency pair traded upward on Tuesday, almost testing the historical resistance level of 1.2611 (blue dotted line), and then the price went down a little, closing the daily candle at 1.2594. Today, the market may move up. Economic calendar news is expected at 15:30 UTC (dollar).
Trend analysis (Fig. 1).
The market may move upward from the level of 1.2594 (closing of yesterday's daily candle) to 1.2611, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.2644, the 50% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion: Today, the price may move upward from the level of 1.2594 (closing of yesterday's daily candle) to 1.2611, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.2644, the 50% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2594 (closing of yesterday's daily candle) to 1.2611, the historical resistance level (blue dotted line). In the case of testing this level, a downward movement is possible with a target of 1.2588, the 50% pullback level (red dotted line).
*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.
