The British pound rose by 119 points yesterday since there were rumors that England would not leave the EU at all. Formally, it was a speculative growth, but, nevertheless, the price continues to stay above the MACD line of the daily scale.
On the four-hour chart, the price growth was stopped by the MACD line using the balance line (red indicator). Currently, the price on the H4 is below these indicator lines, the marlin oscillator signals a further decline (negative parameter of the signal line -0.0015).
To continue the decline, we are waiting for the price to leave the area below the MACD line of the daily chart (1.3028), which corresponds to the low of today's Asian session. A target of 1.2883 - support for the embedded line of the price channel. Next, the target range will be 1.2772-1.2814, created by the high on December 31 and the low on February 14.The material has been provided by InstaForex Company - www.instaforex.com