The British pound more clearly than other counterdollar currencies shows the intention to turn upward. At least in a noticeable correction and for the near future. The target of such a 1.3412 correction is the 123.6% Fibonacci level, where the MACD indicator line is in now. A sign of such an intention is the decisive exit of the Marlin Oscillator in the positive area.
On the four-hour chart, the price went above both indicator lines – above the balance line (red) and the MACD line (blue). Marlin has moved to the positive area. The nearest target of the pound is 1.3313. If the price moves below the MACD line (1.3230), the growth scenario is canceled.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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