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GBP/USD
Yesterday's 0.39% drop in the U.S. dollar index hindered the continuation of the British pound's downward movement. The price returned to the Kijun-sen (MACD) line, and during today's Pacific session, it broke above it and is now pressing against the target resistance at 1.3525.
A daily close above this level opens the path toward 1.3631 — the high from June 13. The Marlin oscillator has also perked up with optimism and returned to the growth zone, supporting the development of a short-term uptrend.
On the four-hour chart, the situation is less optimistic. Marlin has not yet entered positive territory, and above the 1.3525 level lies the Kijun-sen line (1.3562), so a consolidation above 1.3525 alone does not yet guarantee growth toward 1.3631.
Only a breakout above the Kijun-sen line (1.3562), with Marlin also moving into positive territory, will fully open the way to the target resistance at 1.3631.
A decline below yesterday's low would restore the primary downward movement toward the first target at 1.3364.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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