Yesterday, the British pound fell 114 points. The target of 1.3035 was achieved - support for the MACD line of the daily scale. The price went below the red indicator line of balance, which means a shift in the overall trend downwards, the signal line of the marlin oscillator has penetrated deep into the decline territory.
On the four-hour chart, the price consolidated below the indicator lines of the balance and MACD, the marlin oscillator indicates the prospect of a further decline in price.
So, after the price goes below yesterday's low, which automatically means that the price goes under the support of the MACD line on a daily scale, a target of 1.2884 opens - supporting the embedded line of the price channel of the higher timeframe. With the overcoming of this support, it is possible for the price to further decline to the February 14 low - 1.2772.The material has been provided by InstaForex Company - www.instaforex.com