The British pound fulfilled its first growth target of 1.2975 yesterday, not reaching the peak on October 21 (1.3012).
The signal line of the Marlin oscillator is slightly higher than the neutral zero line, consolidation above the boundary has not yet taken place, the movement of the indicator as a leading indicator of the direction of the price is equally probable in any direction (the Marlin oscillator belongs to the category of leading indicators).
On the four-hour chart, the Marlin oscillator takes a slow turn, which creates the likelihood of another upward price surge: either for the formation of a reversal divergence, or for higher growth. In turn, the growth option may be twofold: to the peak on October 21 at 1.3012, for which the price must consistently overcome two intermediate levels 1.2975 and 1.2995, and, after consolidating above 1.3012, the second part of the growth to the boundary of the price channel in the region of 1.3168
It is possible that the price will turn into a medium-term decline from any intermediate level on the way to 1.3012: 1.2975, 1.2995 – in this case there will be a more convenient situation for the formation of divergence on the H4 scale.
Origin: InstaForex
