The British pound is slightly stuck on the balance indicator line on the daily chart. However, the price refuses to give up, as it still tries to break this support so it can consolidate below the target level of 1.2596.
If it succeeds, it will open the target of 1.2500 – the December 2023 low. On the 4-hour chart, the price is consolidating between the support level of 1.2596 and the balance indicator line.
The Marlin oscillator, after briefly entering the positive territory, is returning back to the downtrend territory. A breakthrough above the MACD line (1.2670) will extend the complicated correction for several days.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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