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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.7675 to 1.7790). 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 (1.7675)
    • Resistance on 05/01/2017
    • Resistance on 05/11/2017
    • Resistance on 05/12/2017
    • Resistance on 05/15/2017
    • Resistance on 05/17/2017
    • Resistance on 05/18/2017
    • Resistance on 05/19/2017
    • Resistance on 02/08/2018
    • Support on 02/27/2018
    • Support on 03/02/2018
    • Resistance on 05/01/2018
    • Resistance on 06/22/2018
    • Resistance on 06/25/2018
    • Resistance on 06/26/2018
    • Resistance on 03/11/2019
    • Resistance on 03/12/2019
    • Resistance on 03/19/2019
    • Resistance on 03/20/2019
    • Resistance on 03/27/2019
    • Resistance on 03/28/2019
    • Resistance on 05/06/2019
    • Resistance on 12/13/2019
    • Support on 03/10/2020
    • Resistance on 03/12/2020
    • Resistance on 03/31/2020
    • Resistance on 04/01/2020
    • Resistance on 04/02/2020
    • Resistance on 04/15/2020
    • Resistance on 04/16/2020
    • Resistance on 05/01/2020
    • Peak on 07/31/2020
    • Resistance on 07/31/2020
    • Resistance on 02/16/2021
    • Support on 02/24/2021
  • Ending of entry zone (1.7790)
    • Resistance on 05/02/2017
    • Resistance on 05/04/2017
    • Resistance on 05/05/2017
    • Resistance on 05/09/2017
    • Resistance on 05/10/2017
    • Resistance on 05/11/2017
    • Resistance on 05/18/2017
    • Resistance on 02/23/2018
    • Resistance on 02/26/2018
    • Resistance on 03/02/2018
    • Support on 03/08/2018
    • Support on 04/20/2018
    • Resistance on 03/12/2019
    • Resistance on 03/13/2019
    • Resistance on 03/25/2019
    • Resistance on 03/26/2019
    • Resistance on 03/27/2019
    • Peak on 12/13/2019
    • Resistance on 12/13/2019
    • Resistance on 03/11/2020
    • Peak on 03/31/2020
    • Resistance on 03/31/2020
    • Resistance on 02/23/2021
    • Resistance on 02/24/2021
    • Resistance on 03/01/2021

DateMarch 28, 2021 - 14:04
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.80500, beginning of downtrend is expected.
  • We make sure when the support at 1.67700 breaks.
  • If the resistance at 1.80500 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A trough is formed in daily chart at 1.7235 on 03/16/2021, so more gains to resistance(s) 1.7435, 1.7675, 1.7790 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 43.

Take Profits:

  1. 1.7435
  2. 1.7315
  3. 1.7160
  4. 1.6975
  5. 1.6770
  6. 1.6585
  7. 1.6190
  8. 1.5875
Click on the level to view price action history.