For one more day, the pound extended its consolidation at the support level of 1.2250. The level is important, because overcoming it opens the way not only to the nearest target at 1.2073, but also to the promising 1.1800.
The Marlin Oscillator is preparing a reversal from the neutral zero line. If there is no reversal, then there will be an attempt to increase the price to the target range of 1.2436/76. To develop a downward movement, the price needs to settle under 1.2250.
On the chart of a four-hour scale, the indicator balance line keeps the price from rising. The Marlin Oscillator has moved into negative territory. Signs of a predominant choice at the price of a falling scenario are still prevailing over bullish signs, one of which is a reversal of the MACD line into growth. The second sign of growth is the very nature of consolidation after the impulse price growth on June 14-16. Our main scenario is going down.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
