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On Friday, as the US dollar index strengthened by 0.44%, the British pound dropped by 42 pips. However, the Marlin oscillator remains stable, supported from below by the zero line reinforced by the lower boundary of the ascending channel. Feeling this support, Marlin could develop further growth without testing the support level.
The first sign of the pound's determination will be a breakout above Friday's high at 1.3584. The growth target is a magnetic point formed by the intersection of the target level at 1.3834 and the upper boundary of the price channel.
The Marlin oscillator's signal line has moved into positive territory on the four-hour chart. Now, its dip below the zero line yesterday was a false move, indicating an upcoming growth. The MACD line resistance at 1.3584 coincides with Friday's high, so breaking through this reinforced level could give the price an impulsive boost today and tomorrow.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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