| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇒ |
The GBR.IDX/GBP pair has been trading in a descending channel pattern since July 30 when the pair reversed from a resistance level formed by the monthly R1 at 7721.96.
The 55-period simple moving average has continued to pressure the pair south since the beginning of August.
Currently, the pair is trading near a resistance cluster formed by the 55– period SMA and the upper border of the descending channel.
By and large, it is likely, that the UK 100 index will continue to fall during the following trading sessions. The potential target for bearish traders would be near the 6800.00 marks.