GBP/USD
The bulls in the British pound forcefully overcame the pressure from the bears, who had been anticipating the 1.3208 target. However, at this point, the resistance of the MACD line at 1.3570 is on the verge of breaking.
If this level is breached, buyers will focus on the important target resistance at 1.3635. A breakout above this level will open the path toward 1.3834—a magnetic level formed by the intersection of the October 2021 high and an embedded price channel line.
On the H4 chart, the price has consolidated above the balance and MACD indicator lines, while the Marlin oscillator is rising sharply. A brief pause can relieve the oscillator at the 1.3570 level (MACD line on the daily chart). A subsequent consolidation above this level will mark the beginning of a new upward phase.
