Yesterday, the pound completed a task – closed the gap at the opening of the week. At the moment, the price is between the balance and MACD (daily) indicator lines, and the Marlin Oscillator is set to grow. The MACD line has lowered its slope, just as the price is consolidating.
In such a situation, the entire range of 330 points between the levels of 1.1170 and 1.1500 is an area of uncertainty for the pound, a range of wide consolidation, although a triangle is visually formed. The uncertainty is likely to be resolved on Thursday when the European Central Bank makes its decision on monetary policy.
On a four-hour time scale, the price lingered on the MACD line, the Marlin Oscillator clearly indicates the neutrality of the current situation. We have to wait for which direction the price will choose on Thursday.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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