Yesterday, the pound corrected, down 49 points, when it sharply grew earlier. The price is currently below the MACD indicator line, but the price can easily go above it and the 1.3955 target level and continue to grow. Consolidation above 1.4016 may extend the rising trend to the target level of 1.4260. This is the main scenario.
A downward reversal is possible, it assumes that the price would have to confront a range of 50 points from its current spot.
The price settled below the 1.3955 level on the four-hour chart. If the leading Marlin oscillator shows an upward reversal, then the price will attempt to return to the area above this level. For the price to return to the downward trend, it is still far away, it needs to go below 1.3845 - below the MACD 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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