On Tuesday, after a short-term breakthrough of the resistance on the daily timeframe’s balance indicator line, the price fell sharply, breaking through the support of the MACD line and the target level of 1.2610.
The Marlin oscillator is turning down without leaving the downtrend area. The pound will likely reach the target level of 1.2524. Overcoming the first target will open the second one at 1.2373 – the low of November 16, 2023.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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