On Tuesday, amid the strengthening of the dollar index by 0.28%, rumors about a break in the inter-party negotiations on Brexit and the possible resignation of Theresa May, the pound sterling lost 42 points. Technically, the reversal took place at the moment when the price touched the balance line of the four-hour scale and touched the marlin oscillator line to the border with the growth area. Now there is nothing to keep the pound from falling further. The goal is to support the embedded line of the price channel in the area of 1.2832. Perhaps the decline is slightly lower, in the range of 1.2772-1.2814, formed by a low of February 14 and the high of December 31 of last year. Further, a correction and a reduction to even lower targets is possible, in particular, to 1.2660 - the lows of August 15 and December 4 of last year.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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