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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.9110 to 0.9175). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.9110)
    • Resistance on 08/11/2017
    • Support on 08/21/2017
    • Support on 09/08/2017
    • Resistance on 01/03/2019
    • Support on 07/30/2019
    • Support on 08/16/2019
    • Support on 08/19/2019
    • Support on 08/20/2019
    • Support on 08/21/2019
    • Resistance on 08/26/2019
    • Resistance on 08/28/2019
    • Resistance on 09/02/2019
    • Resistance on 09/03/2019
    • Resistance on 03/16/2020
    • Support on 03/18/2020
    • Support on 03/19/2020
    • Support on 03/20/2020
    • Support on 03/25/2020
    • Resistance on 03/27/2020
    • Resistance on 07/14/2020
    • Resistance on 07/17/2020
    • Resistance on 07/20/2020
    • Resistance on 07/22/2020
    • Resistance on 07/23/2020
    • Resistance on 07/24/2020
  • Ending of entry zone (0.9175)
    • Resistance on 08/22/2017
    • Resistance on 08/02/2019
    • Support on 08/15/2019
    • Support on 03/19/2020
    • Support on 03/20/2020
    • Resistance on 03/25/2020
    • Resistance on 03/26/2020
    • Peak on 06/29/2020
    • Resistance on 06/29/2020

DateAugust 8, 2020 - 18:50
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 0.9500, beginning of downtrend is expected.
  • We make sure when the support at 0.8940 breaks.
  • If the resistance at 0.9500 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.9150 on 07/27/2020, so more losses to support(s) 0.9000 and minimum to Major Support (0.8940) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 49.

Take Profits:

  1. 0.9000
  2. 0.8940
  3. 0.8860
  4. 0.8785
  5. 0.8670
  6. 0.8590
  7. 0.8460
  8. 0.8275
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sat, 19 Sep 2020
Euro / British Pound (EURGBP) Sat, 12 Sep 2020
Euro / British Pound (EURGBP) Sat, 5 Sep 2020
Euro / British Pound (EURGBP) Sat, 29 Aug 2020
Euro / British Pound (EURGBP) free Sat, 22 Aug 2020