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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

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Trading suggestion:

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

DateAugust 3, 2019 - 20:54
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.72850, beginning of uptrend is expected.
  • We make sure when the resistance at 1.81100 breaks.
  • If the support at 1.72850 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.7555 on 07/30/2019, so more gains to resistance(s) 1.7940 and maximum to Major Resistance (1.8110) 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 50.

Supports and Resistances:

  1. 2.2400
  2. 2.1470
  3. 2.0535
  4. 2.0000
  5. 1.9685
  6. 1.9440
  7. 1.9305
  8. 1.9035
  9. 1.8610
  10. 1.8510
  11. 1.8420
  12. 1.8110
  13. 1.7650
  14. 1.7285
  15. 1.6860
  16. 1.5790
Click on the level to view price action history.