The pound fell by only 17 points yesterday, but it managed to do the main thing – to consolidate under the red balance indicator line on the daily timeframe, which shifted the mood of speculators to short positions.
Having overcome the support level of 1.2100, the price will try to overcome the support of the MACD indicator line (1.2015), after which the prospect of a medium-term downward movement will open before it. The nearest target will be the round level of 1.1800.
Yesterday, on the four-hour chart, the price failed to overcome the MACD line and the target level of 1.2100 on the first attempt. The Marlin Oscillator is in a downward position, so it continues to encourage the price for further attempts to overcome the support. The departure under 1.2100 opens the nearest target at 1.2015 – this is the support of the MACD line on a daily scale. Further, the 1.1800 target level may open.
*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 25 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
