Yesterday, the pound gained 130 points, returning to Monday’s range. The price did not reach resistance at 1.1170, which was prevented by the Marlin Oscillator, which turned down from the zero line (daily).
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Following the price of the oscillator indicates the price’s weakness. As a result, the price may quickly decline to the nearest support (1.0820) and even try to gain a foothold under it.
On a four-hour scale, the price is winding up on the MACD line, which in general looks like a consolidation under the resistance of 1.1170. The signal line of the Marlin Oscillator is turning down from the zero line. The subsequent consolidation under the MACD line, with the support of Marlin, may turn out to be more effective than it was yesterday and the day before yesterday.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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