Currently, two scenarios are being considered for the pound: an immediate rise to the magnetic point of 1.3455 (the intersection of the upper boundary of the ascending wedge and the embedded price channel line) or after an initial decline to the 1.3300 support. Overcoming this resistance will allow the price to reach the target of 1.3525.
Further growth may continue up to 1.3635 or close to it, with the embedded green price channel line being worked out. The signal line of the Marlin oscillator fits within the wedge, which significantly weakens the pressure of divergence. The lower boundary of the wedge indicates that the price is unlikely to drop below the 1.3300 level.
On the four-hour chart, the price is undergoing minor consolidation above the 1.3360 level. The MACD line reinforces the 1.3300 level. The Marlin oscillator is in negative territory, but this bearish sign is muted by its sideways (neutral) movement.
*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
