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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.

DateMay 30, 2020 - 22:52
Currentdowntrend
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.80750, beginning of uptrend is expected.
  • We make sure when the resistance at 1.95200 breaks.
  • If the support at 1.80750 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.9530 on 05/04/2020, so more losses to support(s) 1.8420 and minimum to Major Support (1.8075) 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 28.

Supports and Resistances:

  1. 1.8420
  2. 1.8075
  3. 1.7880
  4. 1.7560
  5. 1.7285
  6. 1.6860
  7. 1.6550
Click on the level to view price action history.