The pound sterling rose by 52 points on Friday, the Marlin oscillator signal line on the daily chart reached the boundary with the growth zone and currently shows the intention to turn from it. Overcoming the signal level of 1.2604 will make it possible for the price to move higher to the price channel line, approximately to the level of 1.2665, to which the MACD line also seeks.
On the four-hour chart with the Marlin oscillator, the initial stage of a divergence is formed - the reversal formation. Leaving prices under the MACD line (1.2515) will be a sign that the price will further withdraw below the signal level of 1.2480 (July 5 low), overcoming of which opens the way for a fall to support the embedded line of the 1.2296 (daily) price channel.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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