At the start of the new trading week, the British pound attempted to break below the MACD line on the daily chart. However, due to a downside gap at the opening, the momentum was insufficient, and the price returned above the MACD line after briefly breaching it.
If today's candlestick closes bullish (white), the price may attempt to break through the key resistance level at 1.3525 again. A successful consolidation above this level would extend the upward movement toward the target at 1.3631—marking the high from June 13.
On the four-hour chart, the price is poised to break through the MACD line in an effort to close the gap.
On a price rise, the Marlin oscillator would return into positive territory, confirming the false nature of the recent dip (indicated by the arrow). As a result, a rapid acceleration in bullish momentum could propel the pair toward the 1.3525 level. A confirmed breakout above it would pave the way toward 1.3631.
