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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.8725 to 1.8880). 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 (1.8725)
    • Resistance on 01/17/2014
    • Resistance on 01/20/2014
    • Resistance on 01/21/2014
    • Resistance on 01/22/2014
    • Support on 01/30/2014
    • Support on 01/31/2014
    • Resistance on 02/03/2014
    • Resistance on 12/04/2014
    • Support on 12/08/2014
    • Support on 01/06/2015
    • Resistance on 01/08/2015
    • Resistance on 01/14/2015
    • Resistance on 01/15/2015
    • Resistance on 01/21/2015
    • Resistance on 01/22/2015
    • Support on 03/17/2016
    • Support on 03/24/2016
    • Support on 03/25/2016
    • Support on 03/30/2016
    • Support on 03/31/2016
    • Support on 04/05/2016
    • Resistance on 04/07/2016
    • Resistance on 04/08/2016
    • Resistance on 04/22/2016
    • Resistance on 10/10/2018
    • Peak on 10/11/2018
    • Resistance on 10/11/2018
    • Resistance on 02/28/2019
    • Resistance on 03/01/2019
    • Resistance on 03/04/2019
    • Resistance on 03/06/2019
    • Resistance on 03/07/2019
    • Resistance on 03/12/2019
    • Resistance on 03/19/2019
    • Resistance on 03/20/2019
    • Resistance on 03/27/2019
    • Support on 05/06/2019
    • Resistance on 05/13/2019
  • Ending of entry zone (1.8880)
    • Resistance on 12/08/2014
    • Support on 12/11/2014
    • Resistance on 01/06/2015
    • Support on 03/09/2016
    • Support on 03/10/2016
    • Support on 03/18/2016
    • Support on 03/21/2016
    • Resistance on 03/30/2016
    • Resistance on 04/05/2016
    • Resistance on 04/26/2016
    • Resistance on 03/14/2019
    • Resistance on 05/06/2019

DateJuly 20, 2019 - 15:52
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • While the price is below the resistance 1.81100, continuation of downtrend is expected.
  • We make sure when the support at 1.72850 breaks.
  • If the resistance at 1.81100 is broken, the short-term forecast -continuation of downtrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.8035 on 07/10/2019, so more losses to support(s) 1.7650 and minimum to Major Support (1.7285) 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 31.

Take Profits:

  1. 1.8610
  2. 1.8510
  3. 1.8420
  4. 1.8110
  5. 1.7650
  6. 1.7285
  7. 1.6860
  8. 1.5790
Click on the level to view price action history.