A technical double convergence has formed for the British pound. The Marlin oscillator turned upwards on Friday, while it closed the day with a black candlestick. To confirm such an initial reversal signal, the price needs to stay above the resistance at 1.2444 and break above the descending green price channel line.
Such challenging work is unlikely to happen before the results of the Federal Reserve’s meeting on Wednesday. However, if everything goes well for the bulls, the pound may rise to 1.2684 – the level that the MACD indicator line is approaching.
The 4-hour chart has its own convergence. To confirm it and for the corresponding price to rise, it needs to move above the MACD line and consolidate above the target level of 1.2444. We’re waiting for further developments.
*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
