The pound found the strength to overcome the resistance of the MACD indicator line (1.2277). The Marlin oscillator is slowly climbing. Now the main target level (1.2420) is just farther ahead. On the way, the price can reach the intermediate resistance level of 1.2342, the high of March 23.
The main scenario for growth will be canceled if the price falls below the MACD line (1.2277). That means if it climbs above the MACD line, which is what we're seeing, then that's a false breakout, and the pound can reach the support level at 1.2155.
On the four-hour chart, the price is above 1.2277, the Marlin oscillator is growing in the "green" zone, and we have an uptrend.
For the bears, the situation is complicated by the fact that the MACD line is below 1.2277.