Yesterday, the British pound fell by 40 pips, this morning it continues to gradually fall on the daily chart. There are no external signs of a reversal, before the price falls to support at 1.1933. The price can face the red balance indicator line at this level.
Settling below the level will give the price the strength to fight the support of the MACD line and the price level of 1.1737 (September 13 high). The Marlin oscillator is slowly moving deeper into bearish territory. On the four-hour chart, the signal line of Marlin has crossed the former convergence line in the oscillator window.
Convergence might be getting a gentler slope, but since the price has gone down from the local price channel, breaking the forming line in the oscillator window most probably indicates a breakdown of the convergence, which might intensify the price decline.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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