As a result of yesterday, the pound fell by 46 points, returning below the 1.2684 level. The signal line of the Marlin oscillator on the daily chart isn’t in a hurry to move downwards; on the contrary, it indicates an intent to rise above the zero line.
If the pound realizes this intention, then the pair could rise in the target range of 1.2799-1.2814. Traders across markets are eagerly awaiting today’s US employment data for August. If they turn out to be strong, the pound might head towards 1.2547.
On the four-hour chart, the price consolidated below the MACD indicator line, with the Marlin oscillator in a waiting position in the uptrend territory. While waiting for the US data, the price might rise above 1.2684, which would significantly improve the bulls’ positions.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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