On Monday, the British pound traded within Friday’s range, which did not change the technical situation. The Marlin oscillator keeps going down on the daily chart, with the signal for acceleration being a price move below the support level of 1.2678. The target would be 1.2600.
The pair could further fall towards the MACD line around 1.2515. A breakout above 1.2785 could extend the growth towards the resistance level at 1.2870.
The pair could further fall towards the MACD line around 1.2515. A breakout above 1.2785 could extend the growth towards the resistance level at 1.2870.
On the four-hour chart, the price is leaning towards a decline below the balance indicator line (red). The Marlin oscillator is moving sideways in negative territory. We should monitor the price behavior at the level of 1.2678.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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