Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
GBP/USD
Yesterday, the British pound advanced and reached the target level of 1.2847. In order to rise further, to reach 1.2975, the price must consolidate above the aforementioned mark, which is only possible under favorable circumstances, as today, the UK will publish reports on GDP and industrial production, while the US will release crucial inflation data.
We are inclined to believe that the overall outcome of the expected news will be in favor of the dollar, so we expect the pound to decline to the support level of 1.2755 and further down to the target level of 1.2633. On the 4-hour chart, the price, along with the Marlin oscillator, has formed a divergence.
Before the imminent release of important economic data, technical signals may produce a false signal, but nonetheless, the pound is showing accumulated fatigue. The support level of 1.2755 is strengthened by the MACD line, indicating a struggle here. However, the very fact that the price will drop by a figure will already indicate the outcome of this struggle.
*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.
