Over the course of Wednesday, the British pound fell by 24 pips, settling below the embedded line of the price channel. The Marlin oscillator is showing an upward reversal within its own descending channel. A break above may synchronize with the price returning above the price channel line (1.2190), giving the pound a strong bullish momentum.
The current daily candle is already on the 9th Fibonacci time zone line, but we expect the pair to rise on Monday when we officially receive an announcement that some government services in the United States will be closed.
On the 4-hour chart, a convergence is developing between the price and the oscillator. The price may advance even further once it surpasses the resistance of the MACD indicator line (1.2196), which is close to the daily price channel line. The price will likely consolidate near these levels today.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
