| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Neutral |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The UK 100 index has depreciated about 5.44% in value against the British Pound since the beginning of October. A breakout occurred through the lower boundary of an ascending channel pattern at 7254.98 on October 2.
Although, the pair bounced off from a support level formed by the weekly S3 at 6986.44 during Friday's trading session.
As for the near future, the GBR.IDX/GBP pair will most likely continue to edge up. Bullish traders might aim for the weekly R1 at 7407.03.
However, a resistance cluster formed by the 200– hour simple moving average and the monthly S1 at 7254.74 could hinder such bullish movement.