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Weekly forecast British Pound / Canadian Dollar technical chart

Trading suggestion:

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

DateJune 26, 2022 - 12:48
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.54773, beginning of uptrend is expected.
  • We make sure when the resistance at 1.61602 breaks.
  • If the support at 1.54773 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.60020 on 06/17/2022, so more losses to support(s) 1.57750, 1.56132 and minimum to Major Support (1.54773) 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 47.

Supports and Resistances:

  1. 1.76000
  2. 1.73728
  3. 1.71689
  4. 1.69541
  5. 1.66000
  6. 1.62950
  7. 1.61602
Click on the level to view price action history.