Yesterday, the pound sterling rose by 83 pips, bringing it close to the target range of 1.2816 to 1.2847, which is now a likely reversal point. This is particularly notable since other currencies are not reflecting the same optimism as the euro and the pound. The pound has also reached the upper boundary of its local ascending channel (indicated in green).
It's important to keep in mind that U.S. employment data will be released the day after tomorrow, and the forecasts are positive.
On the four-hour chart, there are currently no signs of a reversal. The price may continue to approach the target range of 1.2816 to 1.2847 steadily. We are awaiting the formation of a technical reversal signal for the British pound.
