The British pound is falling inevitably and hopelessly. Yesterday it immediately overcame the 1.2646 target level, and now the 1.2436/76 target range is open. The range is defined by the December 2018 lows.

No strong signs of a correction on the four-hour scale chart. This is a reversal of the signal line of the Marlin Oscillator from the oversold zone. Correction, if any, is capped from above by the target level of 1.2646 (highs of April 2020). After the correction, we expect the price to move further into the target range of 1.2436/76.