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GBP/USD
The British pound is slowly approaching the MACD line on the daily chart, where it expects a Fibonacci level of 123.6% to the area of 1.2560. The red balance line is also approaching the same point.
Although there's a high probability that the price will reach this magnetic point, a reversal, in the form of a medium-term decline, is still possible.
On the four-hour chart, the situation is completely upwards; the price is above the indicator lines, and the Marlin oscillator is growing in the zone of positive values.
The first sign of the pound's reversal is the price falling below the MACD line, approximately at the level of 1.2345. After that, we expect it to go to the Fibonacci level of 161.8% (1.2235), consolidate below it, and drop further to the Fibonacci level of 200.0% at the price of 1.1935.
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