Yesterday, the pound closed the day up by 6 pips. The Marlin oscillator does not want to rise along with the price, indicating a cooling trend and investors’ interest ahead of the Federal Reserve meeting on March 20th.
Until that moment, the price will probably not leave the range of 1.2745-1.2826, with support strengthened by the MACD indicator line. On the 4-hour chart, the price is slightly above the MACD line, but we might witness bearish breakthroughs of this support ahead of the Fed meeting, as was the case on March 12th (greenish rectangle).
The Marlin oscillator is slowly rising, showing no desire to leave the negative territory. We are waiting for the situation to be resolved, which will likely occur on the day of the Fed meeting on March 20th.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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