As we expected in yesterday's review, the pound again attempted to pull up above the balance line of the daily chart, but failed to gain a foothold above it and sharply fell back below the MACD line.
At the moment, the pound's situation is completely bearish. On the daily chart the price is below both indicator lines, the marlin oscillator is in the negative zone, on H4 the price is also under the indicator lines, the marlin oscillator is in the zone of a declining trend.
Today, the EU is holding a summit on the issue of postponing Brexit to a later date (end of May or June). But this decision will not in itself be a positive one, only an extension of political tension.
We are waiting for the British pound to decline to the price channel line of the daily chart in the area of 1.2860.The material has been provided by InstaForex Company - www.instaforex.com