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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.

DateJune 27, 2020 - 19:12
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • While the price is below the resistance 1.90100, continuation of downtrend is expected.
  • We make sure when the support at 1.75600 breaks.
  • If the resistance at 1.90100 is broken, the short-term forecast -continuation of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.9530 on 05/04/2020, so more losses to support(s) 1.7880 and minimum to Major Support (1.7560) 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 29.

Supports and Resistances:

  1. 1.8420
  2. 1.8060
  3. 1.7880
  4. 1.7560
  5. 1.7285
  6. 1.6860
  7. 1.6550
Click on the level to view price action history.