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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.

DateAugust 28, 2021 - 22:29
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.91350, beginning of downtrend is expected.
  • We make sure when the support at 1.85250 breaks.
  • If the resistance at 1.91350 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 1.89645 on 2021-07-30 and the peak at 1.9153 on 2021-08-20, 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 peak is formed in daily chart at 1.9153 on 08/20/2021, so more losses to support(s) 1.8800 and minimum to Major Support (1.8525) 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 49.

Supports and Resistances:

  1. 2.0535
  2. 1.9535
  3. 1.9135
  4. 1.8525
  5. 1.8450
  6. 1.7415
  7. 1.7285
  8. 1.6860
  9. 1.6550
Click on the level to view price action history.