Influenced by the broader market (with the dollar index down 0.20%), the British pound rose by 34 pips on Tuesday. The upward reversal occurred from the support of the intraday MACD line. The Marlin oscillator has broken out of its descending channel and is now in a rush to move into positive territory. This could happen if the price reaches the target level of 1.2745.

Such a driven rise ahead of Independence Day in the US and Friday’s employment data is quite risky. Nonetheless, from a purely technical standpoint, the probability of an alternative scenario is increasing— renewed investor interest in risk could weaken the dollar if the US labor data shows disappointing figures. As a result, we might see the British pound around the target level of 1.2940.

On the 4-hour chart, the price has settled above both indicator lines, Marlin is growing in the positive area, and we have an uptrend in the short-term. We await Friday.

*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 28 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


Sz. Daniela
Sz. Daniela

Professional Trader, Forex and CFD, Currency Trading. Ace Level 5 declared April 2013. Trading Consultants Inc. a USA Corporation domiciled in Wyoming since April 2012.