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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD
Trade Setup

#GBPAUD
Total Profit: 0 pip
Closed trade(s): 0 pip Profit

Trade Setup:
We opened 7 BUY trades @ 1.77949 based on 'valley' entry method at 2022-04-29.

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

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
DateJuly 4, 2022 - 22:03
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.81515, resumption of downtrend is expected.
  • We make sure when the support at 1.71754 breaks.
  • If the resistance at 1.81515 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of downtrend is decreased.
  • A trough is formed in daily chart at 1.75740 on 06/30/2022, so more gains to resistance(s) 1.76563, 1.77715, 1.79603 and maximum to Major Resistance (1.81515) 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.

Supports and Resistances:

  1. 1.92135
  2. 1.89575
  3. 1.87528
  4. 1.83859
  5. 1.81515
  6. 1.79603
  7. 1.71754
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Australian Dollar (GBPAUD) Sun, 14 Apr 2024
British Pound / Australian Dollar (GBPAUD) Sat, 6 Apr 2024
British Pound / Australian Dollar (GBPAUD) Mon, 1 Apr 2024
British Pound / Australian Dollar (GBPAUD) Sat, 30 Mar 2024
British Pound / Australian Dollar (GBPAUD) Mon, 25 Mar 2024
History
Daily-Trading-Opportunities on GBPAUD.