Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Sell | Buy |
RSI (14) | Neutral | Buy | Neutral |
Stochastic (5; 3) | Buy | Neutral | Neutral |
Alligator (13; 8; 5) | Sell | Sell | Buy |
SAR (0.02; 0.2) | Sell | Sell | Sell |
Aggregate | ⇒ | ⇒ | ⇒ |
The British Pound continues to lose value against the New Zealand Dollar in the medium-term descending channel. The pattern formed after the currency exchange rate broke through the bottom line of the preceding long-term ascending channel. From the technical perspective, there are no signs that would indicate on change of the downtrend. In this context, the pair most likely is going to continue to fall until the 0% Fibonacci retracement level of the 2016 and 2017 low levels and the 2015 high level at the 1.69 mark. On the other hand, the release of data on New Zealand's GDP on June 14 as well as the announcement of the official bank rate by the BoE on June 15 could significantly shake the rate and, thus, break the existing formation.