GBP/USD
Yesterday, the British pound fell by 46 points, this morning the price is correcting to the previous four-day decline. The corrective growth will probably not reach the area above the target level of 1.3918 (high on April 6) that was previously surpassed.
The Marlin oscillator is in a neutral position, but generally in a negative area, that is, in a general downward trend. Falling below 1.3800 opens the target at 1.3646/70.
The price is below both indicator lines on the four-hour chart, the Marlin oscillator is also correctively rising in the negative zone. Here, before you are able to reach the target level of 1.3918, there is the resistance of the MACD line (1.3880). Visually, the moment when the price touches this MACD line, the signal line of the oscillator will reach the zero line - the border of the growth area. The correction will likely stop here. We are waiting for it to end and the pound to resume falling to the designated target range of 1.3646/70.
