The pound lost 86 points on Friday. The decline stopped at the target level of 1.2476. More precisely, the suspension occurred before the target range of 1.2436/76. This morning the price is trying to penetrate this range. Overcoming it, going under the lower border 1.2436, will open the 1.2250 target.
The Marlin Oscillator on a daily scale with the price moving under 1.2436 may be below the zero line, which will strengthen (confirm) the downward signal.
On the H4 chart, the Marlin Oscillator is declining in the negative area. The price makes its first attempt at an attack at 1.2476. So far everything is according to plan.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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