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!
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GBP/USD
After the pound made a small effort to move lower, it stopped due to the target support at 1.2465. At the same time, the Marlin oscillator signal line stopped the decline at the boundary of the downtrend territory. Now, this line is moving right along the boundary, which is a good sign for the bearish scenario, since Marlin did not move upwards after reaching this mark.
The pound will face the outcome of the Bank of England meeting in such a neutral position. We believe that the pound will fall, since it has no logical grounds to rise.
If the situation develops according to the alternative scenario, the pound could rise and reach the target level of 1.2596, near which the embedded price channel line is located.
On the 4-hour chart, as before, the price is progressing under both indicator lines, and Marlin is in a sideways position as traders await the BoE meeting. The target levels are marked on the chart: 1.2424, 1.2355, 1.2307.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
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