GBP/USD

The British pound declined slightly yesterday, but this morning it is showing growth. This signals a price consolidation near the resistance level of 1.3369.

A breakout above this level will not greatly ease the situation for the bulls, as the MACD line lies ahead near the 1.3400 mark. However, breaking above the MACD line opens the path to the target level of 1.3525. The Marlin oscillator may not have time to move into positive territory by the moment the price reaches the MACD line, which underscores the difficulty of further growth.

On the four-hour chart, the Marlin oscillator has entered positive territory. The price is nearly ready to challenge the 1.3369 level. The MACD line has approached this level, significantly strengthening it, which means the bulls' first attempt may fail, resulting in an extension of the consolidation phase.

Consolidating above 1.3369 will allow for preparation to break through 1.3400, which is the MACD line on the daily chart.