GBP/USD
The British pound failed to gain a foothold under the MACD line on Monday (closing of the day was slightly higher than this line), and it opened above this line today. But the Marlin oscillator remains in the zone of negative values. The price may return below the MACD line, as it is still below the Fibonacci level of 161.8% and below the balance line (indicator red).
The price is developing between the signal level of 1.2165 and the MACD line on the H4 chart. A reversal of the current candle occurred from this line, the Marlin oscillator in a neutral position - on its own zero line.
The CBI retail sales balance for the current month will be published this afternoon, with a forecast of -65 versus -55 in April, which may support the pound in deciding to once again attack the support of the signal level to the downside. Consolidation under it opens the way to 1.1935 - Fibonacci level of 200.0%.
