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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

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Trading suggestion:

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

DateMarch 28, 2020 - 19:24
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.84150, beginning of downtrend is expected.
  • We make sure when the support at 1.70000 breaks.
  • If the resistance at 1.84150 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.6540 on 03/20/2020, so more gains to resistance(s) 1.7535, 1.7790, 1.8050 and maximum to Major Resistance (1.8415) 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 56.

Supports and Resistances:

  1. 1.8415
  2. 1.7535
  3. 1.7315
  4. 1.6770
  5. 1.6585
  6. 1.5735
Click on the level to view price action history.