Yesterday, the British currency surged by 98 pips, overcoming two target resistances at once. However, the pound rose on average trading volumes, which means that you may still consider strategic selling. It is possible to expect a correction to the Fibonacci level of 38.2%, which is close to the lows of February 6th and 14th.
At this price level, the Marlin oscillator may reach the boundary of the growth territory, and there’s a good chance of a reversal of the downtrend. The peak of the correction would be 1.2596, coinciding with the Fibonacci level of 50.0% and the embedded line of the global descending channel.
On the 4-hour chart, the price has settled above the MACD indicator line, and the Marlin oscillator has become stable and continues to rise in the positive territory. We expect the price to reach the intermediate level of 1.2525.
*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
