GBP/USD: Consolidation above Target Level Signals Potential for Further Upside
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GBP/USD
Yesterday, volatility was weak, however, the price has consolidated above the target level of 1.2678 on the daily chart. The Marlin oscillator is trying to rise in the positive area, now the price can reach the target level of 1.2785.
If the pound needs to develop a decline, it should consolidate below yesterday's low, then there will be an opportunity to work out fairly strong levels like 1.2600, 1.2572.
On the 4-hour chart, the price is consolidating above the 1.2678 level, above the balance indicator line. The Marlin oscillator is moving sideways in the uptrend territory. Rising signs prevail. If the price fails to reach 1.2785, a breakout of the MACD line around the 1.2745 mark will still be a good attempt to do so.
