On Friday, the pound sterling rose almost 100 points, the price rose above the nearest peak from June 16. Conditions for forming a reversal divergence on the daily chart have been met. The pound can reach the target level of 1.2870.
If the price consolidates above this level, the divergence will not form, and the price may continue to rise in the range of 1.3000/70 (this is a small consolidation in the second half of April 2022). The sign of a reversal is when the price settles below 1.2785. The current situation is uncertain.
On the four-hour chart, the price is rising above both indicator lines, the Marlin oscillator has turned down, but so far it looks like a discharge before it rises further.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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