| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Neutral | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇓ |
Following a four-week decline against the Swiss Franc, the Pound halted at the 1.2221 mark, where the weekly S1 was located at the time, managed to recover some losses and consequently formed an ascending channel. However, it failed to overcome the monthly PP at 1.2492, thus not being able to reach the upper channel boundary for a week.
This might suggest that the current wave up was only a correction against the general bearish trend. Taking into account technical indicators, it is expected that the rate should soon reverse to the downside, possibly near the 50.0% Fibonacci retracement and the weekly R1 in the 1.2550/80 area.
Subsequently, the pair might test the weekly PP and the 200-hour SMA circa 1.2440. A breakout of this mark should confirm that the bearish sentiment is to take the upper hand.