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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.

DateOctober 19, 2019 - 18:49
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.90900, beginning of downtrend is expected.
  • We make sure when the support at 1.84150 breaks.
  • If the resistance at 1.90900 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 46 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.8075 on 10/10/2019, so more gains maximum to Major Resistance (1.9090) 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 70.

Supports and Resistances:

  1. 1.8780
  2. 1.8165
  3. 1.7880
  4. 1.6860
  5. 1.5790
Click on the level to view price action history.