The pound lost 142 points yesterday, heading towards the magnetic crossover point of two lines – the target level of 1.1800 and the lower border of the falling wedge on the daily scale chart.
Surpassing the level will open the nearest target at 1.1660. A slight correction is likely (retest of the lower border of the wedge) from this level and further decline.
There is a fairly calm downward situation on the four-hour chart – the price is falling below the balance (moving red) and MACD (moving blue) indicator lines, the Marlin Oscillator does not show any intentions to reverse. In case of a correction, the MACD line will act as its limiter.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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