The optimism in the pound that emerged yesterday morning faded by the end of the day. The session closed higher, but the balance line was only pierced by the upper shadow. Today opened below the balance line.
The Marlin oscillator signaled a reversal while remaining in negative territory. Signs of sideways movement have appeared within the range of 1.3364–1.3468. This is likely to be the pound's holding range until U.S. labor data is released on Friday. On the four-hour chart, the price did not even attempt to rise above the balance line.
On the way toward the target level of 1.3525, the pair faces the MACD lines on two key timeframes: D1 at 1.3468 and H4 at 1.3498. Given the weak starting impulse yesterday, it is unlikely that the price will attempt to breach these resistances before the U.S. employment data. The Marlin oscillator remains in a sideways, neutral short-term trend. Sideways movement is expected until Friday's release.
The material has been provided by InstaForex Company - www.instaforex.com
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GBP/USD
The optimism in the pound that emerged yesterday morning faded by the end of the day. The session closed higher, but the balance line was only pierced by the upper shadow. Today opened below the balance line.
The Marlin oscillator signaled a reversal while remaining in negative territory. Signs of sideways movement have appeared within the range of 1.3364–1.3468. This is likely to be the pound's holding range until U.S. labor data is released on Friday. On the four-hour chart, the price did not even attempt to rise above the balance line.
On the way toward the target level of 1.3525, the pair faces the MACD lines on two key timeframes: D1 at 1.3468 and H4 at 1.3498. Given the weak starting impulse yesterday, it is unlikely that the price will attempt to breach these resistances before the U.S. employment data. The Marlin oscillator remains in a sideways, neutral short-term trend. Sideways movement is expected until Friday's release.
The material has been provided by InstaForex Company - www.instaforex.com