Last Friday, the British pound decided to overcome the target range of 1.2853-1.2900 in one move. The pound completed the task, now the nearest target at 1.2730 is just ahead. Next, it is possible to open the 1.2646 target - the resistance of March 2020. The signal line of the Marlin Oscillator has come out of a long downward consolidation, now it is on its way to oversold.
The Marlin Oscillator is already oversold on the H4 chart. Moving deeper into this area may continue, but it will still be more convenient for the market to let the oscillator discharge a bit today in order to continue the attack towards lower targets from tomorrow, so today may look like a consolidation - a sideways price movement and an increase in the Marlin Oscillator.
