Yesterday, the British pound closed at the opening level. The price managed to consolidate above the balance indicator line, increasing the likelihood of rising to the level of 1.2745. However, the balance line itself is embedded in the body of today’s candle, and the signal line of the Marlin oscillator remains completely neutral to this situation.
As a result, we do not expect the pair to show a strong movement in either direction. A significant sign of supporting the downward movement is a break below the MACD line (1.2628). The targets are 1.2517, 1.2465. On the 4-hour chart, the price is tangled in between the balance and MACD indicator lines.
The Marlin oscillator is showing progress in the bullish territory. A move into the downtrend territory could visually coincide with the price breaching yesterday’s low at 1.2669, or, a better signal would be the price consolidating below yesterday’s low. We also kept an eye on the price’s behavior at yesterday’s high; the pound might still rise to 1.2745
*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
