The British pound has done an important thing – it has come out of the wedge of the daily chart to the upside. The significance of this matter is still situational, because the Kli can transform into a normal descending channel, the upper supposed border of which is indicated by a light green line. The pound’s growth, thus, while waiting for the short-term. The UK balance of payments is a record low in the entire modern history of the country (-51.7 billion pounds), so we do not expect a deep correction.
The first growth target is the MACD line of the daily scale near the round level of 1.2100. The exit of the price above the MACD line will open the second target at 1.2250 or a little higher at the upper border of the price and so far the expected downward channel. Actually, this is the area of accumulation on June 21-27.
The price is rising above the balance and MACD indicator lines on a four-hour scale. The Marlin Oscillator managed to accumulate strength in the range and is ready to continue growing.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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