Yesterday, the British pound decreased by 41 points, gaining a foothold under the balance indicator line on the daily scale, which showed the previous false movement over this line on June 7-8.
The Marlin Oscillator decreases, but so far it is in a positive area. At the moment, the price is included in the target range of 1.2436/76. Obviously, the price will still go out of the range downwards and go towards the target level of 1.2250.
On a four-hour timescale, the price was also under the balance indicator line, and the Marlin Oscillator is already declining in the downward trend zone. The MACD line turned downward, setting the medium-term direction. So, the closest target is 1.2436 – the lower boundary of the range.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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