On the daily chart, the British pound closed above the balance indicator line on Friday, and this morning, it is rising towards the nearest target resistance at 1.2745. Overcoming this level will open the second target at 1.2826, which is the December 28th high. The Marlin oscillator is slowly but steadily approaching the border of the bullish territory.
On the 4-hour chart, the price is struggling with resistance at the MACD indicator line. Overcoming it, as well as the high from the 19th at 1.2713, will pave the way for the price to reach the first target at 1.2745.
There are no important scheduled news events today, but tomorrow, the UK will release a report on Public Sector Net Borrowing, and the UK budget deficit for December is expected to fall from £13.4 billion to £11.2 billion. From the US docket, the Richmond Fed Manufacturing Index may improve from -11 to -7. Therefore, investors can feel free to buy risky assets today.
*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
