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Weekly forecast British Pound / Swiss Franc technical chart

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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, 08/17/2019 - 21:56
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1.1470, beginning of uptrend is expected.
  • We make sure when the resistance at 1.2220 breaks.
  • If the support at 1.1470 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 1.1672 on 08/12/2019, so more gains to resistance(s) 1.1900 and maximum to Major Resistance (1.2220) 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 41.

Supports and Resistances:

  1. 1.3855
  2. 1.3400
  3. 1.3130
  4. 1.2915
  5. 1.2790
  6. 1.2685
  7. 1.2220
Click on the level to view price action history.