Yesterday, the pound performed well against the backdrop of a broad weakness of counter-dollar currencies, as it managed to gain 4 pips. The Marlin oscillator is moving sideways on the daily timeframe, almost reversing, so the price may start a medium-term decline from the level of 1.2745 with a higher probability than from the level of 1.2790 – from the upper boundary of the descending price channel.
On the 4-hour chart, the hypothetical divergence has become more complicated, but overall, the outlook remains unchanged. An uptrend in the short-term, and Marlin is ready for a short-term reversal to the upside.
The MACD line has come even closer to the level of 1.2642 – to the MACD line on the daily chart, strengthening this key area. If the price falls below it, it will be an important sign of a price reversal to a medium-term decline.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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