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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateAugust 13, 2021 - 21:39
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.84700, resumption of uptrend is expected.
  • We make sure when the resistance at 0.87200 breaks.
  • If the support at 0.84700 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.85385 on 2021-02-24 and the trough at 0.84715 on 2021-04-05, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
  • A trough is formed in daily chart at 0.8447 on 08/12/2021, so more gains to resistance(s) 0.8535, 0.8590, 0.8670 and maximum to Major Resistance (0.8720) 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 45.

Take Profits:

  1. 0.8670
  2. 0.8785
  3. 0.8860
  4. 0.8940
  5. 0.9175
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sun, 14 Apr 2024
Euro / British Pound (EURGBP) Sat, 6 Apr 2024
Euro / British Pound (EURGBP) Sat, 30 Mar 2024
Euro / British Pound (EURGBP) Sat, 23 Mar 2024
Euro / British Pound (EURGBP) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURGBP.