The British pound gradually reversed from the support level of 1.3433 reached on May 29. Starting the day with optimistic growth (the quote has already exceeded Friday's and Thursday's opening levels), it is now heading toward the magnetic point formed by the target level at 1.3635 and the price channel line.

Further growth is possible toward the upper boundary of the price channel around the 1.3790 mark or slightly higher — to the target level at 1.3834 (the peak of October 2021).

The price has moved back above the MACD line on the four-hour chart after a false breakout below it on Friday.

The Marlin oscillator has not yet exited the negative zone but is close to doing so and is likely to join the upward trend today, supporting the price.

The alternative scenario would be a consolidation below the 1.3433 level and a continuation of the decline toward 1.3311.