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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.

DateDecember 22, 2019 - 15:44
Currentrange bound
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 1.87200, continuation of uptrend is expected.
  • We make sure when the resistance at 1.95250 breaks.
  • If the support at 1.87200 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.9525 on 12/16/2019, so more losses minimum to Major Support (1.8720) 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 42.

Supports and Resistances:

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