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 has faced strong support at the level of 1.3845 because resistance became support.
So, the strong resistance has been already faced at the level of 1.3845 and the pair is likely to try to approach it in order to test it again.
The level of 1.3895 represents a weekly pivot point for that it is acting as minor support this week.
Furthermore, the GBP/USD pair is continuing to trade in a bullish trend from the new support level of 1.3867.
Currently, the price is in a bullish channel. According to the previous events, we expect the GBP/USD pair to move between 1.3867 and 1.3967.
Also, it should be noticed that the double top is set at 1.3967. Additionally, the RSI is still signaling that the trend is upward as it remains strong above the moving average (100).
This suggests the pair will probably go up in coming hours. Accordingly, the market is likely to show signs of a bullish trend.
In other words, buy orders are recommended above 1.3867 with the first target at the level of 1.3916.
If the trend is be able to break the double top at the level of 1.3916, then the market will continue rising towards the weekly resistance 2 at 1.3967.
On the other hand, if the GBP/USD pair fails to break through the resistance level of 1.3845 this week, the market will decline further to 1.3823.
The pair is expected to drop lower towards at least 1.3823 with a view to test the double bottom.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
