The British pound lost 170 points on Tuesday at the moment, the day closed near the opening level. With a decrease, the Fibonacci level touched 161.8%, which confirms the working settings of this tool. Therefore, we confirm the early forecast that if the price overcomes the Fibonacci level of 161.8% at the price of 1.2235, the pound may fall to the target at the Fibonacci level of 200.0% at the price of 1.1935.
On the four-hour chart, the Marlin oscillator has penetrated into the negative trend zone; the second attempt to overcome 1.2235 will probably be successful.
Aggressive trading allows opening sales at current prices with a stop loss above yesterday’s high at 1.2472. A more cautious trading style requires waiting for the breakout of the signal level of 1.2235.
The material has been provided by InstaForex Company – www.instaforex.com