The US dollar rose yesterday: the dollar index rose by 0.57%, the S & P500 stock index -0.03% (Russell2000 -1.12%), crude oil -1.99%, the yield on 5-year US government bonds fell from 3 , 23% to 3.14%.
Investors avoid risk, due to this the British pound fell yesterday by 0.51% (-61 points). There is not much left to the target level of 1.2073 and after breaking it, it is possible to continue the decline to the level of 1.1800.
On the four hour chart, the price has firmed below the MACD indicator line, the Marlin oscillator is falling in the downtrend zone. We are waiting for the price to strengthen below 1.2073 and for a further decline.