The British pound grew more than other currencies in the New Year’s week, but fell the most with the advent of the new year. Yesterday’s decline was 125 points.
The immediate goal is the MACD line on the daily chart – 1.3070.
And only overcoming the price of this support will unfold the scenario of the pound’s further decline.
On the H4 chart, yesterday’s growth was delayed at the Fibonacci level of 38.2%. The immediate goal is to support the MACD line, located at 1.3060, which is close to supporting the Fibonacci level of 23.6% and supporting the daily timeframe 1.3070. The level is strong, respectively, if it is overcome by the price, an accelerated fall in the British currency is possible. The Marlin oscillator shows intention to infiltrate the negative trend zone. Goals 1.2820, 1.2730 – Fibonacci levels of 138.2% and 123.6% on daily.
Origin: InstaForex
