The British pound failed to build on the offensive launched cheerfully on Wednesday. Growth stopped at the target level of 1.3119 and the balance indicator line. The signal line of the Marlin Oscillator has entered the zone of positive values, but remains in its own consolidation range, marked on the chart by a gray rectangle. Now we are waiting for the price at the bearish target level of 1.2900.
The four-hour chart shows a sharp exit of the price above the MACD indicator line, marked in blue, and an even faster return below it. This is a typical type of false movement. The price has settled below the MACD line, and in order to fully strengthen the downward trend, it now needs to go below the balance line (red) and the Marlin Oscillator to go into the negative area. But all this can only happen next week, because today is a holiday in the Western markets.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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