On Monday, the British pound rebounded after falling on Thursday and Friday. Today, the price has been in the middle of the 1.2547 and 1.2684 range since trading opened, with the Marlin oscillator rising, which restrains the pressure of the balance and MACD indicator lines.
A break above 1.2684, which would automatically push the Marlin oscillator into the positive territory, could potentially open up the elusive target of 1.2799-1.2814. A break below the support of 1.2547 could shift the current neutral state towards a decline to either 1.2485 or 1.2447.
On the 4-hour chart, the price is currently struggling to break above the balance line, Marlin is moving sideways below the zero line, and the MACD line is slightly pointing downwards. A bearish bias in the short-term perspective. However, given these circumstances, the 1.2684 level seems quite important – if we can confirm that the price will stay above this level then this could serve as a signal for growth, causing the indicators to turn upwards.
*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
