| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Sell | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
The UK100 index, which measures the best 100 performing stocks from the London Stock Exchange, has surged by 4.29% in value since the beginning of February. The pair tested the upper boundary of a descending channel pattern at 7575.20 on February 12.
All things being equal, the GBR.IDX/GBP pair will most likely make a retracement towards a support cluster formed by the weekly and the monthly pivot points and the 55– hour SMA at 7419.77 during the following trading sessions.
However, given that the pair is currently trading near the upper border of the descending channel pattern, a breakout might occur within the following trading sessions.