| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The British Pound surged by 2.35% against the Australian Dollar during last week's trading sessions. The currency pair breached a significant resistance level at 1.8070 on May 13.
Currently, the exchange rate is trading near the upper boundary of an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the weekly resistance level at 1.8500 could be expected this week.
However, if the channel pattern holds, bearish traders might pressure the GBP/AUD currency exchange rate lower during the following trading sessions.