On Wednesday, the pound tried to shift the market balance towards long positions by going above the balance indicator line, but the bears made it clear that it was too early to do this. In continuing the market reaction, the price may move lower to the support of the MACD line (1.3640), after which it will continue to rise. The Marlin Oscillator is in the zone of positive values, the general trend is increasing.
On the four-hour chart, the price settled above the balance line, the Marlin Oscillator is in the growth zone. The price reserve above the balance line and the signal line of the oscillator above the zero line is enough to continue a moderate correction to 1.3640.
The material has been provided by InstaForex Company - www.instaforex.com