Weekly GBPCAD Technical Analysis and Forecast - Forex - Forecast City

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Weekly forecast		British Pound / Canadian Dollar technical chart
Symbol	GBPCAD	Download MT4 template file Trading suggestion: By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
Date	July 4, 2020 - 22:05
Current	range bound
Forecast	beginning of uptrend
Midterm forecast: While the price is above the support 1.65400, beginning of uptrend is expected. We make sure when the resistance at 1.80500 breaks. If the support at 1.65400 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the trough at 1.6843 on 2020-05-27 and the trough at 1.6768 on 2020-06-30, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased. While the RSI downtrend #1 is not broken, bearish wave in price would continue. A trough is formed in daily chart at 1.6760 on 06/30/2020, so more gains to resistance(s) 1.6975, 1.7315, 1.7535 and maximum to Major Resistance (1.8050) 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 45. Supports and Resistances: 1.8415 Resistance on 03/19/2018 Peak on 03/19/2018 Resistance on 06/16/2016 Resistance on 06/10/2016 Support on 05/04/2016 Resistance on 05/02/2016 Resistance on 04/27/2016 Resistance on 04/26/2016 Resistance on 04/25/2016 Resistance on 04/18/2016 Resistance on 04/12/2016 Support on 04/07/2016 Support on 04/06/2016 Resistance on 05/04/2015 Support on 04/29/2015 Resistance on 04/23/2015 Resistance on 04/22/2015 Support on 04/14/2015 Resistance on 01/20/2015 Resistance on 08/11/2014 Resistance on 08/08/2014 Resistance on 08/07/2014 Resistance on 08/04/2014 Resistance on 08/01/2014 Resistance on 07/29/2014 Resistance on 07/18/2014 Resistance on 07/17/2014 Resistance on 07/14/2014 Resistance on 06/13/2014 Resistance on 06/06/2014 Resistance on 06/05/2014 Resistance on 05/14/2014 Resistance on 04/15/2014 Resistance on 04/01/2014 Resistance on 03/28/2014 Resistance on 03/27/2014 Support on 03/25/2014 Support on 03/21/2014 Support on 03/12/2014 Support on 03/11/2014 Support on 02/24/2014 1.7535 Resistance on 05/05/2020 Support on 04/16/2020 Resistance on 04/14/2020 Resistance on 04/03/2020 Resistance on 03/13/2020 Resistance on 03/06/2020 Resistance on 12/17/2019 Resistance on 05/10/2019 Support on 05/03/2019 Resistance on 04/30/2019 Resistance on 04/16/2019 Resistance on 04/15/2019 Resistance on 04/05/2019 Resistance on 04/02/2019 Resistance on 04/01/2019 Resistance on 03/29/2019 Support on 03/20/2019 Support on 03/15/2019 Support on 03/06/2019 Resistance on 02/28/2019 Resistance on 02/27/2019 Resistance on 01/25/2019 Resistance on 06/20/2018 Resistance on 06/19/2018 Resistance on 06/18/2018 Resistance on 06/15/2018 Resistance on 05/09/2018 Resistance on 05/08/2018 Support on 02/20/2018 Resistance on 02/14/2018 Resistance on 02/13/2018 Resistance on 02/09/2018 Resistance on 02/08/2018 Resistance on 02/06/2018 Resistance on 02/05/2018 Resistance on 02/02/2018 Resistance on 02/01/2018 Resistance on 01/26/2018 Resistance on 06/08/2017 Resistance on 06/07/2017 Resistance on 05/24/2017 Support on 05/22/2017 Support on 05/18/2017 Support on 05/17/2017 Support on 05/16/2017 Resistance on 09/15/2016 Resistance on 08/03/2016 Resistance on 06/30/2016 Resistance on 06/29/2016 Resistance on 06/28/2016 Resistance on 06/27/2016 Support on 06/24/2016 Support on 11/21/2014 Support on 09/08/2014 Support on 01/02/2014 Support on 12/31/2013 Support on 12/30/2013 Resistance on 12/20/2013 Resistance on 12/04/2013 1.7315 Support on 04/24/2020 Support on 04/23/2020 Support on 04/13/2020 Support on 04/10/2020 Support on 04/09/2020 Support on 04/03/2020 Support on 03/30/2020 Support on 03/12/2020 Resistance on 02/28/2020 Resistance on 02/18/2020 Resistance on 02/14/2020 Resistance on 02/13/2020 Resistance on 02/05/2020 Resistance on 02/04/2020 Resistance on 01/30/2020 Resistance on 01/23/2020 Support on 12/12/2019 Support on 12/06/2019 Resistance on 12/04/2019 Resistance on 12/03/2019 Support on 04/23/2019 Support on 04/22/2019 Support on 04/17/2019 Support on 04/02/2019 Resistance on 01/22/2019 Resistance on 12/28/2018 Resistance on 12/27/2018 Resistance on 12/24/2018 Resistance on 07/25/2018 Resistance on 07/24/2018 Resistance on 07/18/2018 Support on 07/13/2018 Support on 07/09/2018 Support on 07/06/2018 Support on 07/04/2018 Support on 07/03/2018 Support on 07/02/2018 Support on 06/29/2018 Support on 06/28/2018 Support on 06/14/2018 Support on 06/13/2018 Support on 06/08/2018 Resistance on 06/04/2018 Resistance on 06/01/2018 Resistance on 05/30/2018 Resistance on 05/29/2018 Resistance on 05/28/2018 Resistance on 05/25/2018 Support on 05/15/2018 Support on 01/30/2018 Support on 01/29/2018 Support on 01/22/2018 Resistance on 01/19/2018 Resistance on 01/18/2018 Resistance on 12/08/2017 Resistance on 12/07/2017 Resistance on 06/09/2017 Support on 06/07/2017 Support on 06/06/2017 Support on 06/05/2017 Support on 06/01/2017 Resistance on 04/24/2017 Resistance on 04/21/2017 Resistance on 04/20/2017 Support on 09/15/2016 Support on 09/14/2016 Resistance on 09/09/2016 Resistance on 09/06/2016 Resistance on 08/01/2016 Resistance on 07/29/2016 Resistance on 07/22/2016 Resistance on 07/21/2016 Resistance on 07/18/2016 Resistance on 07/15/2016 Resistance on 07/14/2016 Resistance on 07/13/2016 Support on 06/29/2016 1.6770 Support on 07/01/2020 Support on 06/30/2020 Support on 06/29/2020 Support on 06/19/2020 Support on 03/26/2020 Support on 03/25/2020 Resistance on 03/23/2020 Resistance on 03/20/2020 Support on 03/18/2020 Support on 10/29/2019 Support on 10/24/2019 Support on 10/16/2019 Resistance on 10/11/2019 Support on 06/24/2019 Support on 06/19/2019 Support on 06/18/2019 Support on 01/11/2019 Support on 12/14/2018 Support on 12/10/2018 Support on 12/04/2018 Support on 12/03/2018 Support on 11/15/2018 Support on 10/29/2018 Support on 10/24/2018 Resistance on 08/27/2018 Resistance on 08/24/2018 Resistance on 08/23/2018 Resistance on 08/14/2018 Support on 01/08/2018 Support on 01/05/2018 Resistance on 11/14/2017 Resistance on 09/29/2017 Resistance on 09/28/2017 Resistance on 09/21/2017 Support on 06/28/2017 Support on 06/23/2017 Support on 06/22/2017 Support on 06/14/2017 Resistance on 04/06/2017 Resistance on 04/05/2017 Resistance on 04/03/2017 Resistance on 12/08/2016 Support on 12/05/2016 Support on 11/30/2016 Support on 11/25/2016 Resistance on 11/23/2016 Resistance on 11/22/2016 Resistance on 11/21/2016 Resistance on 11/09/2016 Resistance on 11/04/2016 Support on 10/05/2016 Support on 10/04/2016 1.6540 Support on 03/20/2020 Trough on 03/20/2020 Support on 03/19/2020 Resistance on 10/10/2019 Resistance on 10/03/2019 Resistance on 09/25/2019 Resistance on 09/24/2019 Resistance on 09/23/2019 Resistance on 09/16/2019 Support on 07/01/2019 Resistance on 10/18/2017 Resistance on 10/12/2017 Resistance on 10/11/2017 Resistance on 10/10/2017 Resistance on 10/09/2017 Support on 09/27/2017 Resistance on 08/11/2017 Resistance on 08/10/2017 Resistance on 08/09/2017 Resistance on 08/08/2017 Resistance on 08/07/2017 Resistance on 08/04/2017 Support on 07/17/2017 Support on 07/10/2017 Support on 04/13/2017 Support on 04/07/2017 Support on 03/30/2017 Support on 03/29/2017 Resistance on 03/20/2017 Resistance on 03/17/2017 Resistance on 02/01/2017 Resistance on 01/30/2017 Resistance on 01/26/2017 Resistance on 01/25/2017 Resistance on 01/03/2017 Support on 12/30/2016 Support on 12/29/2016 Support on 12/28/2016 Support on 12/27/2016 Support on 12/26/2016 Support on 12/23/2016 Support on 12/22/2016 Support on 12/19/2016 Support on 12/16/2016 Support on 12/15/2016 Support on 12/09/2016 Resistance on 11/02/2016 1.5735 Support on 01/16/2017 Click on the level to view price action history.

Symbol	Released	Current	Forecast
British Pound / Canadian Dollar (GBPCAD)	Sun, 14 Apr 2024
British Pound / Canadian Dollar (GBPCAD)	Sun, 7 Apr 2024
British Pound / Canadian Dollar (GBPCAD)	Sat, 30 Mar 2024
British Pound / Canadian Dollar (GBPCAD)	Mon, 25 Mar 2024
British Pound / Canadian Dollar (GBPCAD)	Sun, 17 Mar 2024