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On Monday, the British pound closed with a small gain. This pattern has become common over the past week—growth marked by small white candles, while declines occur through extended black ones.
This trend needs to change, or else the pound may fall (according to the alternative scenario) below the support level of 1.3433. If that happens, it won't have any supports left until the 1.3208 level. The Marlin oscillator is also in a depressed state. However, the upward trend remains intact thanks to the price holding above the MACD line and Marlin staying in positive territory. The main scenario pointing to growth toward 1.3834 remains valid.
The Marlin oscillator moves sideways along the neutral zero line on the four-hour chart. The price is developing above the balance line (red) and below the MACD line, likely gathering strength to overcome it (1.3600). A successful breakout will signal the price's readiness to challenge resistance at 1.3635.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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