On Friday, the pound once again tested the Fibonacci level of 223.6% and plunged to the level of 238.2%, while making a puncture of the signal level (1.2154).
The Marlin oscillator on a daily scale probes the border with the territory of the “bears”.
On the four-hour chart, the price reversal came from the MACD line.
The signal line of the Marlin oscillator is consolidating in a narrow range. We are waiting for a further price reduction; the first goal is the Fibonacci reaction level of 261.8% at the price of 1.2032, then the price will try to work out a zone of coincidence of the Fibonacci level of 271.0% with the price channel line in the region of 1.1986.
Origin: InstaForex
