Despite yesterday’s turbulent events at the ECB meeting, the pound is currently kept in the range of Monday, at the Fibonacci level of 200.0% of the daily scale and below the resistance of a low on July 17 (1.2381). the price exit above the indicated resistance opens the way for the British pound to 1.2543 – to the Fibonacci level of 161.8%. The downward movement has approximately the same range of decline to the MACD line of the daily TF at the price of 1.2180, where the line of the falling price channel is also located.
The price is above the indicator lines of balance (red) and MACD (blue) on the four-hour chart, consolidating below the MACD line, under 1.2306, can trigger a declining scenario with the target at 1.2180. The likelihood of rising and falling is the same.
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