The pound repeated an attempt to overcome the resistance level of 1.2100 yesterday, which was still on Monday. The result was the same – immediately after the exit, the price dropped back down.
The Marlin Oscillator is slowly declining, approaching the border of the bears’ territory. The first target of the downward movement is the MACD indicator line at 1.1990. The price moving under it opens the second target at 1.1800.
The price again looks settled under the level of 1.2100 on the four-hour chart, the decline occurs under both indicator lines: under the balance line and the MACD line, and the MACD line, which is a trend line, turns down, predicting the further direction of the medium-term trend. The Marlin Oscillator is in negative territory. The general trend of the pound is declining.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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