On Wednesday, the British pound reached the target level of 1.2708 but quickly fell below 1.2616 on Thursday. Today, the price begins the day awaiting new signals. From a technical perspective, indications for a decline have already emerged.
On the daily chart, the Marlin oscillator has exited its range downward and formed a divergence, which clearly opens the path toward the 1.2500 target. A break below this level would allow the price to move toward the strategic target of 1.2367 (reinforced by the MACD line), potentially paving the way for a further decline to 1.1950.
On the H4 chart, the price has settled below the MACD line, the balance line, and the 1.2616 level. The Marlin oscillator has also exited its range downward. All signs point toward a price movement toward the first support target at 1.2500.
