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
On Friday, the British pound climbed above the resistance level of 1.2525 with its upper shadow. Today, it opened below the level with a neutral Marlin oscillator on the daily timeframe. In this situation, it supports the bearish scenario with the price staying below the descending balance indicator line (red moving average).
Now the first task is to overcome the support at 1.2465. Once the price manages to attain this goal, the next target will be 1.2424. Next, we expect the price to reach 1.2355. An alternative bullish scenario is possible once the price closes above 1.2525 and surpasses Friday's peak. This will open the next target at 1.2596.
On the 4-hour chart, the price has settled below both indicator lines and below the level of 1.2525. The signal line of the Marlin oscillator is preparing to move into the downtrend territory. We expect the price at the support level of 1.2465.
*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.