The British pound turned down sharply on Tuesday, and did not reach the resistance of the MACD line on a daily scale. The price went under the target level of 1.1525, before it opened support at 1.1385. Going under the level will open the 1.1305 target. The Marlin Oscillator on the daily chart is falling in the negative area – in the downward trend zone.
The latest data showed a decline in UK unemployment from 3.8% to 3.6%, but jobless claims rose by 6,300, which did not improve the economic picture after falling industrial production and GDP on Monday.
The price settled under the target level of 1.1525 and under the MACD indicator line on the H4 chart. The Marlin Oscillator is going down, we are waiting for the price near the nearest target at 1.1385.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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