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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateDecember 5, 2020 - 20:52
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.88600, resumption of uptrend is expected.
  • We make sure when the resistance at 0.93250 breaks.
  • If the support at 0.88600 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A trough is formed in daily chart at 0.8865 on 11/23/2020, so more gains to resistance(s) 0.9070, 0.9175 and maximum to Major Resistance (0.9325) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 55.

Supports and Resistances:

  1. 0.9500
  2. 0.9325
  3. 0.9000
  4. 0.8940
  5. 0.8860
  6. 0.8785
  7. 0.8670
  8. 0.8590
  9. 0.8460
  10. 0.8275
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sat, 23 Mar 2024
Euro / British Pound (EURGBP) Sun, 17 Mar 2024
Euro / British Pound (EURGBP) Sat, 9 Mar 2024
Euro / British Pound (EURGBP) Sat, 2 Mar 2024
Euro / British Pound (EURGBP) Sun, 25 Feb 2024