Yesterday, the British pound consolidated below the breached level of 1.2745 and below the MACD indicator line. In today’s Asian session, the pair continues to fall.
The Marlin oscillator is already close to moving into negative territory, and the price may be on track to reach the target support at 1.2610. If the pair consolidates below this mark, it may fall towards 1.2524.
On the 4-hour chart, a detailed view reveals a price consolidation below the level of 1.2745. In addition, we’ve noticed a small correction of the Marlin oscillator of a consolidation type (light-green rectangle). Now, both the price and technical indicators are ready for further downward movement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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