Under pressure from the dollar’s widespread attack, and a massive withdrawal from risk, the pound declined by 200 points yesterday. The support level of 1.1914 was left far behind. The signal line of the Marlin oscillator, as we expected, came out of its own wedge to the downside.
The price is now heading towards the nearest support at 1.1737, the high on September 13, 2022. Overcoming the level will open the 1.1644 target, the high of October 27.
On the four-hour chart, the Marlin oscillator is reversing upward. It has penetrated deep down, though not into the oversold zone, now it needs a slight release to resume a more confident decline. A consolidation under yesterday’s low (1.1820) will allow the price to move even closer to the target level.
*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 25 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
