GBP/USD

Yesterday, the British pound unexpectedly returned to the intermediate resistance at 1.2525 – the lows of February 5th and 14th, and the 38.2% Fibonacci level. Despite the intermediate status of this level, its influence is increasing day by day.

If the price manages to consolidate above it, with the support of the Marlin oscillator, which has already entered the positive territory, it will be able to reach the target of 1.2596, which it did not reach on the 29th. If the price consolidates below the level of 1.2525, it will be much easier for it to fall by one figure to the target of 1.2427. Further targets are indicated.

On the 4-hour chart, the price is trying to rise as it is above both indicator lines. The Marlin oscillator intends to turn downwards from the boundary of the uptrend territory. Today, we do not expect strong movement as US employment data will be published tomorrow.