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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.

DateSeptember 7, 2019 - 21:25
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 1.82150 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 peak is formed in daily chart at 1.8110 on 09/05/2019, so more losses to support(s) 1.7800, 1.7650, 1.7480 and minimum to Major Support (1.7285) 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 48.

Supports and Resistances:

  1. 1.8880
  2. 1.8610
  3. 1.8420
  4. 1.8215
  5. 1.8110
  6. 1.7995
  7. 1.7800
  8. 1.7650
  9. 1.6860
  10. 1.5790
Click on the level to view price action history.