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By Monday morning, the British pound had turned upward without reaching the target range of 1.2816/47, and the Marlin oscillator had also reversed to the upside without reaching the boundary of the downtrend zone.
On the H4 chart, the first candle of the day has engulfed Friday's final candle. Though it is a weak reversal signal (on the H4 scale), it still suggests a change in direction. Marlin is preparing to move into positive territory.
Once the price breaks above the signal level of 1.2944 (resistance from March 7–10), it will again aim for the 1.3001 level. A consolidation above that point would open the path for a further rise by one figure — with a target at 1.3101.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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