The British pound dropped 55 points yesterday, and it continues to fall this morning. Visually, this is a demonstration of the intention to overcome the target level of 1.3160 (December 8 low) and continue to move towards the 1.3012 level – this is the October 2019 high.
The price turned downward from the MACD indicator line on the four-hour chart, and this line was tested twice (arrows), and this is a pattern of further downward price movement. The Marlin Oscillator has entered the negative area. We are waiting for the development of the downward movement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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