| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Neutral |
| Alligator (13; 8; 5) | Neutral | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The Pound has slightly appreciated against the Australian Dollar during the last few weeks, thus forming a relatively flat ascending channel. During the last wave down, the Sterling was supported by the 100– and 200-hour SMAs which resulted in a minor consolidation period. However, the bearish market sentiment prevailed in this session and pushed the rate through the aforementioned support.
The pair has reached the bottom boundary of the channel up; thus, the following hours will be crucial to determine the pair's possible direction. Taking into account the strongly bearish technical indicators, the Sterling should go for a recovery and therefore remain in the channel.
The most probable upside target in the short-term is the 1.6300 area where the weekly PP, the 100– and 200-hour SMAs are located.