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On Tuesday, the British pound tested the lower boundary of the target range at 1.2816/47 with an upper shadow. This morning, the price managed to move inside this range. A consolidation above it will open the path toward the 1.3001 target.
The Marlin oscillator is showing optimism, rising steeply toward the boundary of the growth territory.
On the H4 chart, Marlin has not yet reached positive territory, and the price still faces the MACD line at 1.2886 above the target range.
Price consolidation within the 1.2816/86 range is likely until this resistance is reached. A breakout above 1.2886 would remove the final barrier for growth toward 1.3001.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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