The British Pound is trading against the New Zealand Dollar on the four-hour chart in the medium-term ascending channel. The pattern emerged after a notable surge in the end of April, when the rate broke the preceding three-month channel up. At the current moment, the currency exchange rate is heading for the upper trend line of the formation, as it faces no resistance on its way to that level. Consequently, the likely scenario is that the pair will reach the upper edge of the channel and then rebound from it amid the pressure from the weekly R1 located just above the trend line at the 1.8978 level.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 1.9250 | Monthly R1 | MACD (12; 26; 9) | Sell | Sell | Sell | ||
| R3 | 1.9147 | Weekly R2 | RSI (14) | Sell | Buy | Buy | ||
| R2 | 1.8967/75 | Trend line; weekly R1 | Stochastic (5; 3; 3) | Neutral | Neutral | Neutral | ||
| R1 | 1.8843 | Upper Bollinger Band | ADX (14) | Sell | Sell | Sell | ||
| S1 | 1.8763 | 55-period SMA | CCI (14) | Neutral | Neutral | Buy | ||
| S2 | 1.8157 | 20-period SMA | AROON (14) | Sell | Neutral | Neutral | ||
| S3 | 1.8741 | 100-period SMA | Alligator (13; 8; 5) | Buy | Buy | Buy | ||
| S4 | 1.8662 | Bottom Bollinger Band | SAR (0.02; 0.2) | Sell | Buy | Buy | ||
| Aggregate | ↘ | → | ↗ |