| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The GBP/NZD exchange rate has been trading down within the descending channel since the beginning of May. As apparent on the chart, the rate has already reached the 1.8800 mark.
From the theoretical point of view, it is likely, that the currency pair could add to gains, as it should target the upper channel line located in the 1.8900/1.9050 range, In this case, the pair would have to surpass the resistance level formed by the Fibonacci 50.00% retracement at 1.8933.
Also, note, that the rate is pressured by the 55-, 100– and 200-hour SMAs, located circa 1.8850. If the given resistance holds, it is expected, that some downside potential could prevail in the market. Important level to look out for is the monthly S1 at 1.8798.