| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The British Pound has been depreciating against the New Zealand Dollar since the middle of December after the GBP/NZD exchange rate failed to surpass the resistance level—the monthly R1 at 2.0350.
Currently, the currency pair is trading at the 1.9510 mark. Note that the pair is pressured by the 55-, 100– and 200-hour moving averages. Thus, it is likely that some downside potential could prevail in the market. A possible downside target is the Fibonacci 38.20% retracement at 1.9037.
It is unlikely that bulls could prevail in the market, and the exchange rate could exceed the Fibonacci 0.50% retracement at 2.0460.