The British pound fell 93 points yesterday, having successfully overcome the first target level of 1.3119. The Marlin Oscillator has settled in the downward trend area. The price has chosen a direction and a target at 1.2900. Slightly lower is the second target at 1.2853, which together can be defined as a target range of 1.2853-1.2900 (November 2020 low and December 2019 low).
The price consolidated under the level of 1.3119 and under the MACD line on the four-hour chart. The trend is downward, but at the moment there is a slight correction after yesterday's strong fall. Upon completion of the correction, we expect further decline.
