The British pound is climbing with such difficulty that it looks close to abandoning its plan to reach 1.3790 — the upper boundary of the price channel. The daily Marlin oscillator is leaning toward the lower boundary of its rising channel.
At this point, we are not considering the likelihood of a deep correction (for example, down to 1.3208); instead, we allow for a continuation of a sideways trend within the range of 1.3433–1.3635. If the price moves sideways, it could take about a week to reach the MACD line, so a pause is possible during the European Central Bank's interest rate decision, U.S. employment data releases, and the anticipated phone call between Trump and Xi Jinping.
The four-hour chart shows the price directly on the MACD line. We expect further growth if the next candlestick closes white (bullish), signaling a reversal.
If the next candlestick closes below the MACD line, the price will likely move into a sideways trend — essentially wandering freely.
