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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 12, 2020 - 20:34
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:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.8315 on 11/23/2020, so more losses 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 28.

Supports and Resistances:

  1. 2.0535
  2. 1.9535
  3. 1.9275
  4. 1.8900
  5. 1.8450
  6. 1.8250
  7. 1.7490
  8. 1.7285
  9. 1.6860
  10. 1.6550
Click on the level to view price action history.