The British pound is slowly approaching the target resistance at 1.3635. A breakout above this level would open the way to the MACD line at 1.3705.
This target is likely to be reached, as the Marlin oscillator is currently rising ahead of the price and will soon move into positive territory. Once that happens, it will give the price additional momentum to overcome the 1.3635 level. A breakout above the MACD line would then open the path to 1.3834.
On the four-hour chart, the Marlin oscillator has already entered the growth zone. However, additional resistance has formed at the MACD line (1.3663). To break through it, the price needs to consolidate above 1.3635. The price is sensitive to these resistance levels and is moving cautiously.
