The British pound is still mastering the level of 1.1815, not daring to move away from it further than 50 points in any direction. In general, the situation is going downwards, in order to change the trend, the price needs to overcome the MACD line in the area of 1.1905, which is hard and long to do without external support. A decline below the signal level of 1.1759 will continue the current trend towards the target 1.1650 and possibly 1.1600.
It is noticeable that before the price approaches 1.1905 on the four-hour chart, the price will have to fight with the MACD line on H4, which coincides with the level of 1.1877 – with a peak on August 23rd. The Marlin Oscillator is in the positive area, but in the current situation it is of little use to the bulls.
In general, it can be seen that the price is developing in the range of signal levels 1.1759 and 1.1877. With the highest probability, the price will choose a downward scenario of events.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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