GBP/USD
The pound rose by 42 points along with the general strengthening of counterdollar currencies on Wednesday. The upper shadow was above the signal level of 1.3777. All this action is taking place under the general downward technical pressure on the pound, since the price is below the balance and MACD indicator lines and the Marlin oscillator is in its lower half - in the downward trend zone. Tomorrow, we expect a strong US report on the labor market, as the unemployment rate is forecast to decrease from 6.2% to 6.0%, so investors are unlikely to want to continue the correction today, except for speculative reasons. With the price settling below 1.3777, we expect it to fall to 1.3625.
On the four-hour chart, just below the signal level of 1.3777, the MACD line is located at the 1.3762 level, therefore, to open short positions, you should wait for the price to move just below it, under 1.3762. By this time, the Marlin oscillator will also be in the negative zone, which will increase the signal's reliability.
