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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.

DateMarch 28, 2020 - 19:23
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 2.07500, beginning of downtrend is expected.
  • We make sure when the support at 1.95250 breaks.
  • If the resistance at 2.07500 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.97415 on 2020-01-31 and the peak at 2.0768 on 2020-03-09, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A trough is formed in daily chart at 1.9525 on 03/24/2020, so more gains to resistance(s) 2.0535 and maximum to Major Resistance (2.0750) 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 63.

Supports and Resistances:

  1. 1.8650
  2. 1.8365
  3. 1.8165
  4. 1.7880
  5. 1.7560
  6. 1.7285
  7. 1.6860
  8. 1.6550
Click on the level to view price action history.