Yesterday, the pound fell on Friday’s example, but this time, after a decline of 487 points, there was a strong rebound of 570 points. The day was still closed with a black candle.
The lower shadow still did not reach the target level of 1.0310. Now there is a consolidation under the level of 1.0830. Upon completion of the consolidation, we are waiting for a new wave of decline to 1.0310. Intermediate level of 1.0535.
On the four-hour chart, the price reverses before the resistance level of 1.0830, and the Marlin Oscillator also reverses. If the price does not change its mind and decreases from the current levels (without re-working out 1.0830), then we are waiting for it at the first target of 1.0535.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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