The pound sterling is rising for the third day. It’s probably aiming for the narrow range of 1.2400/43, where it felt comfortable a week ago, before the dollar conducted its recent short-term attack. Now the pound is preparing to meet the news regarding the US debt limit.
The Marlin oscillator is rising ahead of the price, so this growth looks like a deflation, relieving the tension from the oscillator before it falls further. As a result, we expect the price in the target range of 1.2125/53, which was set by the highs on December 28 and November 24, 2022.
On the four-hour chart, the Marlin oscillator breaks into the positive area, which indicates the bulls’ clear intention to reach the 1.2400/43 range, and this will be a false exit above the MACD line on both scales.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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