Yesterday, the British pound tried to rise above the MACD indicator line on the daily chart, but it failed - the resistance was strengthened by the balance line (red). But the bulls also received reinforcement today - the Marlin oscillator has moved into the zone of positive values and is now helping to develop an upward trend.
Consolidating above the indicator lines (above 1.3780) will mean that the price is ready to continue its growth towards the first target of 1.3858 - the low on April 27, March 2 and other days in the history of the current year. The second target at 1.3895 is the embedded price channel line.
On the H4 chart, the price is steadily moving above the balance indicator line (red). The MACD line is turning upward, directing the medium-term upward trend. The Marlin oscillator is still at the zero line, in a neutral state. We are waiting for the development of an upward trend.The material has been provided by InstaForex Company - www.instaforex.com