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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.

DateNovember 25, 2018 - 16:27
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.65950, beginning of uptrend is expected.
  • We make sure when the resistance at 1.72850 breaks.
  • If the support at 1.65950 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the resistance #1 at 62 and it prevented price from more gains.
  • A trough is formed in daily chart at 1.6785 on 11/15/2018, so more gains to resistance(s) 1.7055 and maximum to Major Resistance (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 49.

Supports and Resistances:

  1. 1.8415
  2. 1.8050
  3. 1.7740
  4. 1.7445
  5. 1.7285
  6. 1.7055
  7. 1.6825
  8. 1.6230
  9. 1.5755
  10. 1.5285
  11. 1.4830
Click on the level to view price action history.