The pound closed 38 points lower on Friday. The signal line of the Marlin Oscillator continues to develop in a not so broad consolidation, showing the intention to exit it to the downside. Overcoming Friday’s low (1.2981) will push the price to move more decisively into the target range of 1.2853-1.2900. The boundaries of the range are determined by the lows of November 2020 and December 2019.
On the H4 chart, the price is falling below the balance indicator line. The MACD line has reversed, steadily developing a downward direction. The Marlin Oscillator is going down in the negative area. We are waiting for further decline of the British pound.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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