The British pound showed moderate growth on Tuesday. The upper shadow of the daily candle tested the strong level of 1.0830, after which the price moved down. On Wednesday morning, the price covered the white candle of the previous day.
The price is now faced with a second task – to work out the level of 1.0310. On this path, the price has an intermediate target – 1.0535, there may be a slight delay here. The Marlin Oscillator has slightly discharged, although it still remains in the oversold zone. As a result, we expect a medium (1.0535) or strong correction (not higher than 1.0830) from the support at 1.0310.
On the H4 chart, the price is gathering strength before an attack at 1.0535. Consolidation below the level opens the way to 1.0310. The Marlin Oscillator is turning down in front of the zero line.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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