On Thursday, the pound rose by 37 points while the dollar index fell by 0.57%. Just like yesterday, the Marlin oscillator hardly moved after the price, showing its intention to form a divergence with the price.
This time, the price can reach the target level of 1.2598 (the peak of June 7, 2022). This level is the lower limit of the 1.2598-1.2666 target range, the upper limit of which is formed by the peak of May 27, 2022, so the pound can break through this level.
On the four-hour chart, the price is rising above the balance and MACD indicator lines, and the Marlin oscillator is rising in the positive area. I expect the pound to rise for 2-3 more days, and we should keep an eye on signs of a reversal.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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