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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.8882 to 1.8960). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.8882)
  • Ending of entry zone (1.8960)

DateSeptember 9, 2021 - 23:12
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 1.84980 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 1.896444 on 2021-07-30 and the peak at 1.91532 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) 1.8773 and minimum to Major Support (1.8498) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 51.

Take Profits:

  1. 1.8498
  2. 1.8421
  3. 1.8261
  4. 1.8042
  5. 1.7775
  6. 1.7606
  7. 1.7415
  8. 1.7285
  9. 1.6860
  10. 1.6550
Click on the level to view price action history.