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!
With the absence of strong news on Thursday (the ECB rate cut turned out to be a weak news event), the British pound climbed back above the target level of 1.2994, achieving a daily gain of 20 pips. Notably, the price rebound occurred precisely from the simple moving average with a period of 89 (brown line). This factor may slightly extend the corrective growth.
The Marlin oscillator has also turned upward and quite briskly. This reversal indicates its intention to relieve some tension before further decline. Indeed, for the price to move toward the lower boundary of the price channel (1.2917), it needs to gather some strength. If the price breaks above the resistance at 1.3080, the correction could become deeper and more complex, potentially reaching the MACD line (1.3220). This would suggest that the pound is trying to avoid falling before the BoE rate cut on November 7.
On the four-hour chart, the price is gathering momentum above the linear support, with a probable intention to move above the balance and MACD lines (1.3045). After that, a tough battle with the resistance at 1.3080 will follow, but by then, the Marlin oscillator will likely be firmly in bullish territory.
*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.
