Yesterday's employment data from the UK for May showed an increase in the unemployment rate from 4.5% to 4.6%, along with a rise in jobless claims by 33,100. As a result, the pound declined by 50 pips.
The signal line of the Marlin oscillator has broken downward out of its own channel and is testing the boundary of the downtrend zone. Marlin still has room to reverse, just as the price itself does, since it remains above the indicator lines. If the price falls below 1.3433, a medium-term downtrend in the pound may begin.
On the four-hour chart, a bearish configuration has formed: the price is trading below the indicator lines, the MACD line has turned downward, and Marlin is declining in negative territory. The technical setup on the daily chart still allows for an upward reversal, but the situation is becoming critical. We await further developments.
