| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
The British Pound has been depreciating against the New Zealand Dollar since the beginning of November. This movement has been bounded within the descending channel.
Note that the GBP/NZD exchange rate is pressured by the 55-, 100– and 200-period SMAs on the 4H time-frame chart. Therefore, it is likely that some downside potential could prevail in the market. If the given channel does not hold, the pair could target the Fibonacci 23.60% retracement at 1.9588.
However, note that the currency pair could gain support from the monthly PP at the 2.0021 mark. If the given support level holds, it is likely that a reversal north could occur. In this case the pair could re-test the psychological level at 2.0600.