The British pound began the week on a strong note, reaching a peak on Friday within the first hours of the trading session. The target of 1.2708 is now within reach, and a breakout above this level will open the way to a target range of 1.2816 to 1.2847.
On the daily chart, the Marlin oscillator's signal line is moving sideways within a narrow range, which suggests a potential breakout to the upside. This pattern indicates the price's intention to continue rising.
On the H4 chart, the Marlin oscillator has returned to the positive zone after a false breakout into bearish territory. This false signal reinforces the subsequent valid bullish signal. A price consolidation above 1.2708 will lead to the target range of 1.2816 to 1.2847.
