Yesterday, the pound made an attempt to overcome the strong support formed by the lower border of the falling wedge on the daily chart and the target level of 1.1800. The first attempt failed, today may be the second.
If there is no second attempt today, or on Monday, then, due to the ending wedge, the price may exit it upwards, into a correction, reach the target level of 1.2073 or even 1.2250, and transform the wedge into a regular downward channel, and a wide one at that. The Marlin Oscillator is in a neutral position, waiting for a signal from the price.
On the four-hour chart, the Marlin Oscillator is already showing the intention to go into the positive area. This will give the price an incentive to attack the MACD line (1.1932), and consolidating above it will prolong the growth to 1.2073.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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