Yesterday’s trading range for the pound was 380 points. The lower shadow worked out the support at 1.0535, the upper part of the candle, on the occasion of such a high volatility, went above the strong resistance at 1.0830.
But this morning the market returns to its previous state – below this level and towards 1.0535. The rate of decline may now slow down, but its targets remain: 1.0535, 1.0310.
On the four-hour chart, the price returns below the level of 1.0830. Consolidation below it will strengthen the attraction of the target level of 1.0535. By this time, the Marlin Oscillator should move into negative territory to help the price in this difficult matter.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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