On Thursday, the price reversed from the balance indicator line to the top of the upper shadow of the daily candle, the pound’s decline amounted to 37 points. The Marlin Oscillator has been moving sideways, in consolidation since March 22. We continue to wait for the price at the target support of 1.2900.
The price went below the balance indicator line on a four-hour scale, now it has to overcome the support of the MACD line, below 1.3010. Marlin in the negative area will help the price in this. A stronger sign of bearish development (confirmation signal) will be the price drop below the signal-target level of 1.2980 (Tuesday’s low).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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