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!
GBP/USD
The British pound is rising, but the accompanying Marlin oscillator is quite weak. Before the bulls are not just the desired targets — 1.3834, 1.3935, etc. — but also potential traps from which the bears could launch an unstoppable offensive.
On the daily chart, the trend remains upward, which is also confirmed by the Marlin oscillator breaking upward out of its own descending channel. However, there is also suspicion that this might be a trap — it may be a false breakout from the channel, similar to what occurred on May 12, when it was a breakout to the downside (highlighted by a yellow rectangle).A trend reversal would occur if the price breaks below the support level at 1.3635, which is additionally reinforced by the MACD line.
On the four-hour chart, the price appears to be finishing a consolidation phase. During this consolidation, the Marlin oscillator has had time to decompress and prepare for further growth. As long as the trend remains intact and no signs of reversal appear, we expect the price to continue moving gradually upward.
*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.
