The British pound stalled at the level of 1.3220, which it reached on Friday. This could signal the end of the upward trend, but confirmation would come from going below the lower boundary of the target range, 1.3095-1.3120. If this is not the end of the rise, further movement will require overcoming Friday’s high (1.3229), preferably with consolidation above the level of 1.3220.
The next target would be the resistance level of 1.3300. However, the price does not show any intention to move in any direction. The Marlin oscillator is currently easing and is not providing much information. In the 4-hour chart, the Marlin oscillator’s signal line has moved down from its range, the first sign of the price’s intention to develop a downward movement.
A confirming sign of this intention would be Marlin moving into negative territory. The main events will unfold within the 1.3095-1.3120 range, which the MACD line is trying to strengthen.
*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
