| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Neutral | Sell |
| Alligator (13; 8; 5) | Sell | Sell | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇗ |
For the last 1,5 years, the Pound has been stranded in a rising wedge against the Yen. The upper boundary of this long-term pattern was tested early in February when the Sterling reversed from the 156.50 mark. The pair has since depreciated in another wedge-like formation.
As apparent on the chart, the rate was reluctant to move below the monthly S2 last week; however, the strong bearish sentiment late on Friday pushed it down to the 23.60% Fibo retracement near 149.00.
Meanwhile, the pair has approached a short-term dashed trend-line. In case this line and the combined resistance of the monthly S1, the weekly PP and the 55- and 100-hour SMAs circa 151.60 are breached, a subsequent surge, possibly up to the 154.00, is likely to follow.
On the other hand, the failure to surpass 151.60 should send the pair for a further decline down to 148.00 where the monthly S2 and the weekly S1 are located.