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On Friday, the British pound failed to break above the resistance level 1.3311. Even the "head and shoulders" pattern on the Marlin oscillator couldn't help—the price extended its sideways movement below the 1.3311 level.
Yet today, the pound begins the day intent on overcoming the persistent resistance, and Marlin is preparing to move into positive territory. The next upside targets are 1.3433 and 1.3565, which mark the upper boundary of the price channel.
On the four-hour chart, it's evident how difficult it is for the price to surpass the target level of 1.3311—even the combined support from the indicator lines and the Marlin oscillator, whose signal line is turning upward from the zero line for the second time, has not produced a quick result. However, if the price consolidates above this level, the target at 1.3433 will open.
Moving below the MACD line support (1.3250) would pull the price into the broader support range of 1.3184–1.3208.
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