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Weekly forecast British Pound vs. 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.

DateSat, 03/16/2019 - 19:34
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 1.7720, beginning of downtrend is expected.
  • We make sure when the support at 1.7300 breaks.
  • If the resistance at 1.7720 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1.7390 on 03/11/2019, so more gains maximum to Major Resistance (1.7720) 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 61.

Supports and Resistances:

  1. 1.8415
  2. 1.8050
  3. 1.7720
  4. 1.7535
  5. 1.7425
  6. 1.7300
  7. 1.7055
  8. 1.6825
  9. 1.6230
  10. 1.5755
  11. 1.5285
  12. 1.4830
Click on the level to view price action history.