On Thursday, the pound rose by 55 pips and consolidated above the 1.2708 resistance level, which now acts as support. The price is heading toward the target range of 1.2816/47, aligning closely with the 38.2% Fibonacci level from the entire move between September 26 and November 22.
The Marlin oscillator is rising sharply in positive territory, supporting the price’s upward momentum.A sign of divergence between the price and the oscillator has emerged, but it is weak. Graphically, Marlin remains within an ascending channel (dashed lines). Such contradictions often lead to oscillator and price consolidation.
The 1.2708 level serves as support. Consolidation below this level could trigger a move toward the 1.2616 support, further reinforced by the MACD Line (blue moving average). The primary trend remains bullish, but the final direction will depend on the release of U.S. employment data at 13:30 London time.
*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
