| Indicator | 1D | 1W | 1MN |
| MACD (12; 26; 9) | Sell | Buy | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Buy | Neutral | Neutral |
| Alligator (13; 8; 5) | Sell | Buy | Neutral |
| SAR (0.02; 0.2) | Sell | Buy | Buy |
| Aggregate | ⇘ | ⇗ | ⇒ |
The four-hour chart reveals that the Sterling has been trading sideways against the New Zealand Dollar since mid-October, 2017. This movement has been constrained in a flat descending channel.
The Pound was moving along a long-term trend-line since the beginning of 2018 prior to breaching the given line this week. From theoretical point of view, this breakout should point to a medium-term decline. The fact that the Pound breached the 55-, 100– and 200-period SMAs likewise adds some ground to this bearish scenario.
The rate was testing the monthly S1 at 1.9246 mid-Friday. It is likely that some short-term correction up to 1.96 occurs early next week. However, bears should eventually take the dominant hand and push the rate lower, setting the bottom channel line and the 23.60% Fibonacci retracement at 1.86 as a possible target during the following months.