Yesterday, the British pound unexpectedly returned to the intermediate resistance at 1.2525 – the lows of February 5th and 14th, and the 38.2% Fibonacci level. Despite the intermediate status of this level, its influence is increasing day by day.
If the price manages to consolidate above it, with the support of the Marlin oscillator, which has already entered the positive territory, it will be able to reach the target of 1.2596, which it did not reach on the 29th. If the price consolidates below the level of 1.2525, it will be much easier for it to fall by one figure to the target of 1.2427. Further targets are indicated.
On the 4-hour chart, the price is trying to rise as it is above both indicator lines. The Marlin oscillator intends to turn downwards from the boundary of the uptrend territory. Today, we do not expect strong movement as US employment data will be published tomorrow.
*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
