| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇗ |
The British Pound has been depreciating against the New Zealand Dollar since the beginning of May. This movement has been bounded in the descending channel.
Given, that the currency pair is pressured by the 55-, 100– and 200-hour moving averages, it is likely, that a breakout from the channel could occur within the following trading session. In this case, the pair could decline to the Fibonacci 61.80% retracement at 1.8568.
However, if the given channel holds, it is expected, that the British Pound could continue to depreciate within the given pattern.
It is unlikely, that bulls could prevail in the market, and the exchange rate could jump higher than the Fibonacci 23.60% retracement at 1.9749.