The British pound is slightly gaining this morning after yesterday’s successful attempt to resist the bulls as the price approached the target support level of 1.2678. The signal line of the Marlin oscillator is slowly turning upward, indicating the remaining potential for a decline..
The main goal in the near term is to settle below 1.2678, which would not only open up the immediate support level at 1.2600 but also the MACD line at 1.2515, as 1.2678 is a strong level. A breakout above 1.2785 may push the pair to 1.2870, presenting an alternative scenario.
The main goal in the near term is to settle below 1.2678, which would not only open up the immediate support level at 1.2600 but also the MACD line at 1.2515, as 1.2678 is a strong level. A breakout above 1.2785 may push the pair to 1.2870, presenting an alternative scenario.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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