The pound rose by 25 points on Tuesday, in today's Asian session it blocked this growth. If the price manages to consolidate under 1.2250, then it will go to the target level of 1.2073 with fresh forces. The Marlin Oscillator is turning down without leaving the downward trend zone. The probability of a decrease of 55-60%.
As long as there is no consolidation under 1.2250, the price may move up to the MACD line of the daily scale and to the target range of 1.2436/76.
The price is currently struggling with the support level of 1.2250 on the four-hour chart. But this is only the first obstacle to the development of a downward wave, below it is the MACD line, at around 1.2200. With overcoming this level, the path to 1.2073 will be completely open. By the same time, the Marlin Oscillator will also move into negative territory.
