Yesterday, the British pound saw a corrective rise of 19 pips from the support level of 1.3120. The daily Marlin oscillator showed a weak reaction but now reinforces its downward movement. Today, the price may break into the target range of 1.3095-1.3120 and consolidate within it. A breakout from this range would open the target of 1.2994 (the peak from July 27, 2023).

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On the 4-hour chart, the price is consolidating above the 1.3095-1.3120 range, having consolidated below the balance and MACD indicator lines on August 30. The Marlin oscillator is rising, so the consolidation is not over yet.

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Data on the Manufacturing PMI and construction spending will be released this evening. Forecasts for the indices are optimistic, so we don't expect counter-dollar currencies to rise.