GBP/USD On the daily chart, the price is squeezed between the MACD line and the resistance level of 1.3525. Yesterday's attempt to break upward failed — the decline in the composite PMI from 53.5 to 51.0, with expectations of a smaller drop to 52.7, dampened the emerging optimism.
Today, there is an attempt to move downward. Consolidation of the price below the MACD line (once again) will open the target support at 1.3364. The signal line of the Marlin oscillator is turning downward from the zero neutral line. The likelihood of a renewed price reversal has increased.
On the H4 chart, the Marlin oscillator is also turning downward from the zero line. The synchronous reversal of the signal line on different timeframes may generate momentum for movement (both of the oscillator and the price). The price is making a smooth reversal from the resistance level of 1.3525.
