The US dollar attacked all types of exchange values yesterday: the dollar index added 0.57%, the S&P 500 stock index -0.03% (Russell 2000 -1.12%), oil -1.99%, yield on 5-year US government bonds decreased from 3.23% to 3.14%.
Investors are moving away from risk, and against this background, the British pound fell 0.51% (-61 points) yesterday. There is not much left to reach the 1.2073 target level, and after overcoming it, the downward trend is likely to continue to the round target of 1.1800.
On the four-hour chart, the price has settled below the MACD indicator line, the Marlin Oscillator is moving down in negative territory – in the zone of a downward trend. We are waiting for the price to settle under the level of 1.2073 and further downward movement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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