Yesterday, the pound showed a double sign of a downward trend reversal (that is, the completion of an upward correction from the 15th): a false exit above the level of 1.3270 (the level was pierced by the upper shadow of the daily candle), a decline under the target level of 1.3210, opening a new target level of 1.3110 .
The false exit of the signal line of the Marlin Oscillator into the growth zone (marked with an arrow) formed an independent signal of a downward trend shift. Now Marlin is in the negative area – this is a promising (leading) condition for a price decrease.
On the working chart of H4, the divergence that was planned yesterday worked out in full force – the price showed a pronounced fall, the Marlin Oscillator settled in the bears’ territory. We are waiting for the price at the target level of 1.3110. Since the MACD line is approaching this level, there is likely to be a strong struggle to establish a medium-term trend.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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