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Trend Hunter performance since 2015 for this symbol

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Weekly forecast British Pound vs. Canadian Dollar technical chart
Symbol GBPCAD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.6720 to 1.6595). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.6720)
    • Support on 07/06/2016
    • Support on 07/07/2016
    • Support on 07/08/2016
    • Support on 08/12/2016
    • Support on 08/17/2016
    • Support on 08/18/2016
    • Support on 08/19/2016
    • Support on 10/05/2016
    • Resistance on 11/03/2016
    • Resistance on 11/07/2016
    • Resistance on 11/09/2016
    • Support on 11/15/2016
    • Support on 11/16/2016
    • Support on 11/17/2016
    • Support on 11/25/2016
    • Support on 11/30/2016
    • Support on 12/01/2016
    • Support on 12/02/2016
    • Resistance on 12/08/2016
    • Resistance on 12/14/2016
    • Resistance on 12/15/2016
    • Resistance on 03/22/2017
    • Resistance on 03/23/2017
    • Resistance on 03/24/2017
    • Resistance on 03/31/2017
    • Resistance on 04/03/2017
    • Resistance on 04/04/2017
    • Resistance on 04/07/2017
    • Support on 04/18/2017
    • Support on 06/20/2017
    • Support on 06/21/2017
    • Support on 06/22/2017
    • Support on 07/06/2017
    • Resistance on 08/03/2017
    • Resistance on 09/20/2017
    • Resistance on 09/25/2017
    • Resistance on 09/26/2017
    • Resistance on 09/27/2017
    • Resistance on 09/28/2017
    • Resistance on 09/29/2017
    • Resistance on 10/02/2017
    • Resistance on 10/23/2017
    • Resistance on 10/24/2017
    • Support on 11/02/2017
    • Support on 11/07/2017
    • Support on 11/15/2017
    • Support on 08/09/2018
    • Support on 08/10/2018
    • Resistance on 08/15/2018
    • Resistance on 08/16/2018
    • Resistance on 08/17/2018
    • Resistance on 08/20/2018
    • Resistance on 08/27/2018
    • Resistance on 08/28/2018
    • Resistance on 10/02/2018
    • Support on 10/24/2018
    • Support on 10/25/2018
    • Trough on 12/03/2018
    • Support on 12/03/2018
    • Support on 06/20/2019
  • Ending of entry zone (1.6595)
    • Resistance on 11/08/2016
    • Support on 11/10/2016
    • Support on 11/21/2016
    • Support on 11/22/2016
    • Support on 11/30/2016
    • Support on 12/08/2016
    • Support on 12/13/2016
    • Support on 12/14/2016
    • Support on 12/19/2016
    • Resistance on 01/02/2017
    • Resistance on 01/23/2017
    • Resistance on 01/24/2017
    • Resistance on 01/26/2017
    • Resistance on 03/20/2017
    • Support on 03/31/2017
    • Support on 04/12/2017
    • Support on 04/13/2017
    • Resistance on 07/12/2017
    • Resistance on 07/14/2017
    • Resistance on 07/17/2017
    • Resistance on 07/18/2017
    • Resistance on 09/15/2017
    • Resistance on 09/18/2017
    • Support on 09/22/2017
    • Support on 09/25/2017
    • Support on 09/26/2017
    • Support on 09/27/2017
    • Support on 09/29/2017
    • Support on 10/02/2017
    • Resistance on 10/13/2017
    • Resistance on 10/16/2017
    • Resistance on 10/17/2017
    • Support on 11/13/2017
    • Support on 08/14/2018
    • Support on 08/15/2018
    • Trough on 08/29/2018
    • Support on 08/29/2018
    • Trough on 10/02/2018
    • Support on 10/02/2018

DateSat, 06/22/2019 - 21:44
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1.6595, beginning of uptrend is expected.
  • We make sure when the resistance at 1.7315 breaks.
  • If the support at 1.6595 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 43 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.6675 on 06/20/2019, so more gains to resistance(s) 1.6900, 1.6975, 1.7090 and maximum to Major Resistance (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 38.

Take Profits:

  1. 1.6900
  2. 1.6975
  3. 1.7090
  4. 1.7175
  5. 1.7315
  6. 1.7535
  7. 1.7725
  8. 1.8050
  9. 1.8415
Click on the level to view price action history.