The pound did not settle below 1.2200. This level is probably not defined correctly, so it was modified and moved a little bit lower, to 1.2155 – to the low of May 13, also reached on November 24, as resistance. Now we see that the price falling under 1.2155 on December 6 was false.
If the price grows to the resistance at 1.2410, there might be a triple divergence with the Marlin oscillator (turquoise line in the oscillator). If the price gathers its strength and suddenly goes under 1.2155, the signal line of Marlin will overcome the support of the lower limit of the range and will start the medium-term decline. We are waiting for progress.
On the four-hour chart, the price has crossed the resistance of the MACD line. The Marlin oscillator helped in this, moving into the positive area. Short-term growth. We are waiting for it to be done.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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