The pound fluctuated in a range of 112 points due to the European Central Bank’s decision to raise rates by 0.50%, closing the day up 24 points. Now the price is in Tuesday’s range and by its nature intends to resume the decline.
The MACD indicator line goes under the target level of 1.2100 on the daily timeframe, which indicates a very low probability of the price working it out. The Marlin Oscillator is turning down in front of the zero line. The target is the 1.1800 level, followed by the 1.1660 target.
The price reverses to a repeated attack of the support of the MACD line (1.1919) on the four-hour chart. Leaving the area under it opens the first target at 1.1800. The signal line of the Marlin Oscillator, after a short-term consolidation at the zero line, went into negative territory. The pressure on the price intensifies.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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