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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJuly 10, 2022 - 14:33
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:

  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.78180 on 07/01/2022, so more losses to support(s) 1.73972 and minimum to Major Support (1.71754) 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 48.

Supports and Resistances:

  1. 1.92135
  2. 1.89575
  3. 1.87528
  4. 1.83859
  5. 1.81515
  6. 1.79454
  7. 1.71754
Click on the level to view price action history.