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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 (1.7725 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 (1.7725)
    • Resistance on 05/08/2017
    • Resistance on 05/11/2017
    • Resistance on 05/18/2017
    • Resistance on 05/19/2017
    • Resistance on 02/21/2018
    • Resistance on 02/23/2018
    • Resistance on 02/26/2018
    • Support on 03/09/2018
    • Support on 04/20/2018
    • Resistance on 06/22/2018
    • Resistance on 03/06/2019
    • Resistance on 03/07/2019
    • Resistance on 03/12/2019
    • Resistance on 03/13/2019
    • Resistance on 03/14/2019
    • Resistance on 03/15/2019
    • Resistance on 03/19/2019
    • Resistance on 03/26/2019
    • Resistance on 03/27/2019
    • Resistance on 05/06/2019
  • Ending of entry zone (1.7790)
    • Support on 01/09/2014
    • Support on 01/10/2014
    • Support on 01/13/2014
    • Support on 01/14/2014
    • Support on 11/13/2014
    • Resistance on 11/19/2014
    • Resistance on 11/20/2014
    • Resistance on 11/26/2014
    • Support on 12/02/2014
    • Support on 12/03/2014
    • Support on 12/04/2014
    • Support on 12/05/2014
    • Support on 12/08/2014
    • Support on 01/08/2015
    • 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

DateMay 11, 2019 - 21:22
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.84150, beginning of downtrend is expected.
  • We make sure when the support at 1.73150 breaks.
  • If the resistance at 1.84150 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 peak is formed in daily chart at 1.7730 on 05/06/2019, so more losses to support(s) 1.7420 and minimum to Major Support (1.7315) 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.

Take Profits:

  1. 1.7655
  2. 1.7535
  3. 1.7420
  4. 1.7315
  5. 1.7175
  6. 1.6825
  7. 1.6595
  8. 1.5755
Click on the level to view price action history.