See also
Last Friday, the British pound, despite its very weak position, experienced an unusually strong upward movement, reaching the convergence point of two indicator lines and hitting the target resistance at 1.2510.
This growth coincided precisely with the 8th Fibonacci time line on the daily chart, which was constructed from the peak on December 6. Now, the price is beginning to turn downward. If the support level at 1.2367 is breached, the next target will be 1.2186.
On the H4 chart, the signal line of the Marlin oscillator is fluctuating within a range in the positive zone. Visually, it appears that the line is ready to exit this positive territory. The price has left a small unclosed gap, and after this gap is closed, we expect the price to reach the first target level.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
