The British pound, like other world currencies, showed excessive strengthening on yesterday’s data on US inflation. The bullish target level of 1.2230 was covered by the upper shadow of the daily candle, now the price is pulling back a bit from it.
The Marlin Oscillator does not share the bulls’ optimism, its growth on yesterday’s price surge was moderate. But to confirm the price reversal in the medium term, the price still has a long way to go – to return under the support of 1.2100. After that, the price has yet to prove its intention, having overcome the support of the MACD line (1.1985).
But the first signal of the pound’s intention to take the path of correction, that is, the decline according to the earlier plan, will be the price consolidating under the MACD line on the four-hour chart, below 1.2180. A decline to 1.1985 may take about a week.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
