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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

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Trade Setup
#GBPAUD
Total Profit: 250 pip
Closed trade(s): 250 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 6 BUY trade(s) @ 1.8200 (day close price) based on 'valley' at 2020.07.30.

Closed Profit:
TP1 @ 1.8450 touched at 2020.10.20 with 250 pip Profit.

5 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.7870 to 1.7695). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.7870)
    • Resistance on 06/18/2018
    • Resistance on 06/19/2018
    • Resistance on 06/27/2018
    • Resistance on 06/28/2018
    • Resistance on 06/29/2018
    • Resistance on 07/16/2018
    • Resistance on 07/17/2018
    • Support on 09/05/2018
    • Support on 10/30/2018
    • Support on 10/31/2018
    • Support on 11/12/2018
    • Support on 11/13/2018
    • Support on 11/14/2018
    • Support on 12/27/2018
    • Resistance on 01/10/2019
    • Resistance on 01/11/2019
    • Resistance on 01/14/2019
    • Resistance on 01/15/2019
    • Support on 02/05/2019
    • Support on 02/06/2019
    • Support on 07/03/2019
    • Support on 07/04/2019
    • Support on 07/05/2019
    • Resistance on 07/15/2019
    • Resistance on 08/01/2019
    • Resistance on 08/09/2019
    • Resistance on 08/14/2019
    • Resistance on 08/15/2019
    • Support on 08/21/2019
    • Support on 08/22/2019
    • Support on 09/09/2019
    • Support on 09/12/2019
    • Support on 06/29/2020
    • Support on 06/30/2020
    • Support on 07/06/2020
    • Support on 07/07/2020
    • Resistance on 09/10/2020
    • Support on 10/01/2020
  • Ending of entry zone (1.7695)
    • Resistance on 07/20/2016
    • Resistance on 07/21/2016
    • Resistance on 07/22/2016
    • Resistance on 07/27/2016
    • Resistance on 09/12/2016
    • Resistance on 09/13/2016
    • Support on 11/30/2017
    • Support on 12/07/2017
    • Support on 12/11/2017
    • Resistance on 01/25/2018
    • Support on 02/05/2018
    • Support on 02/08/2018
    • Resistance on 02/13/2018
    • Resistance on 02/14/2018
    • Support on 02/21/2018
    • Support on 02/28/2018
    • Support on 03/01/2018
    • Support on 03/08/2018
    • Support on 03/14/2018
    • Support on 03/15/2018
    • Support on 05/21/2018
    • Support on 05/22/2018
    • Resistance on 05/30/2018
    • Resistance on 06/01/2018
    • Resistance on 06/08/2018
    • Resistance on 06/13/2018
    • Support on 07/09/2018
    • Support on 07/10/2018
    • Support on 07/24/2018
    • Support on 07/30/2018
    • Resistance on 08/03/2018
    • Resistance on 08/23/2018
    • Resistance on 08/24/2018
    • Support on 11/23/2018
    • Support on 11/26/2018
    • Resistance on 11/28/2018
    • Resistance on 12/06/2018
    • Resistance on 12/07/2018
    • Resistance on 12/10/2018
    • Support on 12/20/2018
    • Support on 01/10/2019
    • Support on 01/11/2019
    • Support on 01/15/2019
    • Support on 07/18/2019
    • Support on 07/22/2019
    • Support on 07/23/2019
    • Support on 07/29/2019
    • Support on 08/01/2019
    • Support on 08/09/2019
    • Support on 08/12/2019
    • Support on 08/13/2019
    • Support on 08/14/2019
    • Trough on 07/22/2020
    • Support on 07/22/2020
    • Resistance on 09/14/2020

DateNovember 7, 2020 - 20:06
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.74900, beginning of uptrend is expected.
  • We make sure when the resistance at 1.84500 breaks.
  • If the support at 1.74900 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.8525 on 10/22/2020, so more losses to support(s) 1.7870, 1.7695 and minimum to Major Support (1.7490) 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 46.

Take Profits:

  1. 1.8200
  2. 1.8450
  3. 1.8900
  4. 1.9275
  5. 1.9535
  6. 2.0535
Click on the level to view price action history.