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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.

DateMarch 23, 2019 - 18:19
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.74200, beginning of uptrend is expected.
  • We make sure when the resistance at 1.78200 breaks.
  • If the support at 1.74200 is broken, the short-term forecast -beginning of uptrend- 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 1.7420 on 03/21/2019, so more gains maximum to Major Resistance (1.7820) 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 59.

Supports and Resistances:

  1. 1.8415
  2. 1.8050
  3. 1.7720
  4. 1.7535
  5. 1.7420
  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.