Britain’s trade deficit narrowed more than economists forecast. The goods-trade gap fell to 8.4 billion pounds against forecast 9.1 billion. UK’s trade deficit non-EU trade was 4.0 billion pounds vs. 4.5 billion; the data from the previous month was 5.0 billion. However, the pound dropped 87 pips against 36 pips on the euro; probably it was due to the pound was speculative overbought or the Olympic positive mood influenced it.

From the technical point of view we are waiting for the trade in the range 1.5886 to 1.5915. The consolidation of the price above 1.5915 opens the target in the area of trendlines’ crosses on the 4H, 1.5996. Thus, the outlined convergence with the Marlin oscillator will be worked out. The consolidation of the price above the red trendline on the daily chart (1.6000) may be a sign that the growth resumes. In this case convergence with Marlin oscillator will be formed.