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The British pound opened the new week with a downward gap, which still preserves bullish optimism. There remains potential for the price to return above the resistance level at 1.3433, thereby keeping the previous target at 1.3635 valid.
However, the Marlin oscillator remains in negative territory, making a quick reversal unlikely. On the H4 chart, the price clearly intends to break above the 1.3433 resistance, yet the Marlin oscillator still has not exited its descending zone.
A breakout above the MACD line at 1.3490 will be the main confirmation of a bullish reversal. By that time, Marlin is also expected to move into positive territory.
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