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 rose by 110 pips on Monday, easily leaving the weekly sideways channel of 1.3331-1.3437. We mentioned that the British pound would continue to rise, while the dollar would decline. The market is currently "thin," which makes it easier for large players to move the price in the desired direction during the holidays than at other times. Recall that last week, there was an abundance of macroeconomic reports and fundamental events, and the price remained in a sideways channel throughout that week. However, on the first day of the holiday period, the pound showed an increase of 100 pips, despite a lack of significant impact from the only report of the day – the GDP in the UK. This indicates that traders had nothing to react to yesterday. Nevertheless, the rise of the British currency continued into the night, further proving that the five-month downward correction has ended and the global uptrend for 2025 is resuming.
On the 5-minute timeframe, one trade signal was generated on Monday. In the US trading session, the pair broke above the 1.3437-1.3446 range, allowing novice traders to open long positions. These trades remain relevant today, so profit may increase throughout the day.
On the hourly timeframe, the GBP/USD pair has completed its flat movement and is once again moving upward. We fully support this scenario, as we have stated multiple times. There are no global grounds for medium-term dollar growth; therefore, we expect movement only to the upside. Overall, we anticipate a resumption of the global uptrend in 2025, which may push the pair to the 1.4000 mark in the next couple of months.
On Tuesday, novice traders can consider new long positions if the price bounces off the 1.3437-1.3446 area, targeting 1.3529. However, a corresponding buy signal was generated yesterday.
On the 5-minute timeframe, trading levels include 1.2913, 1.2980-1.2993, 1.3043, 1.3096-1.3107, 1.3203-1.3212, 1.3259-1.3267, 1.3319-1.3331, 1.3437-1.3446, 1.3529-1.3543, and 1.3574-1.3590. There are no significant events scheduled in the UK for Tuesday, while in the US, reports on industrial production, durable goods orders, and the third-quarter GDP in its second estimate will be published. This data is quite important, and no other events are scheduled this week. Therefore, during today's US trading session, the price may either accelerate its rise or sharply reverse downward.
Important Note: Significant speeches and reports (always included in the news calendar) can greatly influence the movement of the currency pair. Therefore, during their release, it is advisable to trade cautiously or exit the market to avoid sharp reversals against the preceding movement.
Remember: For beginners trading in the Forex market, it is important to understand that not every trade can be profitable. Developing a clear strategy and practicing money management are keys to long-term trading success.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
