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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.8510 to 1.8695). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is above the level 1.8370, the probability of beginning of downtrend is too weak, so we would enter the market with sell trades based on Daily-Trading-Opportunities and a day close price below 1.8370 and expect to reach short-term targets.

  • Beginning of entry zone (1.8510)
    • Resistance on 12/18/2013
    • Resistance on 12/19/2013
    • Resistance on 12/26/2013
    • Support on 12/30/2013
    • Support on 12/31/2013
    • Resistance on 01/03/2014
    • Resistance on 01/08/2014
    • Support on 01/17/2014
    • Support on 01/22/2014
    • Support on 02/03/2014
    • Resistance on 02/17/2014
    • Resistance on 02/18/2014
    • Resistance on 02/21/2014
    • Resistance on 02/24/2014
    • Resistance on 02/25/2014
    • Support on 09/29/2014
    • Support on 09/30/2014
    • Support on 10/01/2014
    • Resistance on 10/10/2014
    • Resistance on 10/13/2014
    • Resistance on 11/07/2014
    • Resistance on 11/26/2014
    • Resistance on 11/27/2014
    • Resistance on 11/28/2014
    • Support on 12/03/2014
    • Support on 01/08/2015
    • Support on 01/13/2015
    • Support on 01/14/2015
    • Support on 01/21/2015
    • Support on 04/01/2016
    • Support on 04/04/2016
    • Support on 04/07/2016
    • Support on 04/13/2016
    • Resistance on 04/18/2016
    • Resistance on 04/21/2016
    • Peak on 03/28/2018
    • Resistance on 03/28/2018
    • Resistance on 10/09/2018
    • Support on 10/11/2018
  • Ending of entry zone (1.8695)
    • Resistance on 01/02/2014
    • Support on 01/23/2014
    • Support on 01/31/2014
    • Resistance on 02/04/2014
    • Resistance on 02/27/2014
    • Resistance on 03/04/2014
    • Resistance on 09/29/2014
    • Resistance on 10/01/2014
    • Resistance on 12/03/2014
    • Resistance on 12/04/2014
    • Support on 12/08/2014
    • Support on 01/06/2015
    • Support on 01/07/2015
    • Resistance on 01/14/2015
    • Resistance on 01/15/2015
    • Support on 01/23/2015
    • Support on 03/17/2016
    • Support on 03/31/2016
    • Support on 04/05/2016
    • Support on 04/08/2016

DateOctober 14, 2018 - 18:08
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.88250, beginning of downtrend is expected.
  • We make sure when the support at 1.83700 breaks.
  • If the resistance at 1.88250 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI bounced from the support #1 at 50 and it prevented price from more losses.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.8725 on 10/11/2018, so more losses minimum to Major Support (1.8370) 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 59.

Take Profits:

  1. 1.8215
  2. 1.8110
  3. 1.7940
  4. 1.7800
  5. 1.7650
  6. 1.7500
  7. 1.7285
  8. 1.7065
  9. 1.6860
  10. 1.6550
  11. 1.6160
  12. 1.4375
Click on the level to view price action history.