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 pair also attempted to continue its upward movement on Monday, and it performed better than the EUR/USD pair. The level of 1.3643 serves as a strong support for the British currency, and its prospects are approximately as promising as those of the euro. It became known yesterday that Donald Trump may impose new tariffs, this time against Canada. The US president's anger was triggered by a glaring issue: Canada is trading with China and even signing trade agreements with Beijing! Trump could not accept such injustice, accused the country of wanting to become a "commodity hub," and warned of a potential takeover by China. The tariffs have not yet been imposed, but it seems Trump is waiting for a response from Ottawa to his accusations. If the solution proposed by Mark Carney and his colleagues does not satisfy Trump, we may see new 100% tariffs for Canada. This could be another blow to the US dollar, and the results of the Fed meeting, known tomorrow evening, are also under constant scrutiny from the White House.
On the hourly timeframe, the GBP/USD pair has turned north, and we can expect the British pound to rise in the coming weeks. There are no global grounds for the US dollar's mid-term growth, so in 2026, we anticipate the resumption of the global upward trend from 2025, which may push the pair to the 1.4000 mark soon. Trump's policies continue to suggest no strengthening for the American currency.
On Tuesday, novice traders can consider short positions if the pair settles below the 1.3643-1.3652 area, targeting 1.3574-1.3590. A bounce from the area of 1.3643-1.3652 would allow for new long positions targeting 1.3763.
On the 5-minute timeframe, you can currently trade at the levels of 1.3259-1.3267, 1.3319-1.3331, 1.3365, 1.3403-1.3407, 1.3437-1.3446, 1.3484-1.3489, 1.3529-1.3543, 1.3574-1.3590, 1.3643-1.3652, 1.3763, and 1.3814-1.3832. On Tuesday, no significant events are scheduled in the UK, while the US will release the ADP report on private-sector employment changes (weekly). We do not consider this report essential, so all attention is focused on Donald Trump today.
Support and resistance price levels — levels that serve as targets when opening buys or sells. Take Profit can be placed near them.
Red lines — channels or trendlines that reflect the current tendency and show which direction is preferable to trade now.
MACD indicator (14,22,3) — histogram and signal line — an auxiliary indicator that can also be used as a source of signals.
Important speeches and reports (always listed in the news calendar) can strongly affect a currency pair's movement. Therefore, during their release, trading should be done with maximum caution, or positions should be closed, to avoid a sharp price reversal against the preceding move.
Beginner forex traders should remember that not every trade can be profitable. Developing a clear strategy and effective money management are the keys to long-term trading success.
*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.
