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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateNovember 10, 2018 - 21:42
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.31550, beginning of downtrend is expected.
  • We make sure when the support at 1.28650 breaks.
  • If the resistance at 1.31550 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.31145 on 2018-10-12 and the peak at 1.3171 on 2018-11-08, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.3170 on 11/08/2018, so more losses to support(s) 1.3000 and minimum to Major Support (1.2865) 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 56.

Supports and Resistances:

  1. 1.6005
  2. 1.5535
  3. 1.4805
  4. 1.4555
  5. 1.4200
  6. 1.3855
  7. 1.3725
  8. 1.3475
  9. 1.3360
  10. 1.3000
  11. 1.2865
  12. 1.2745
  13. 1.2645
  14. 1.2470
  15. 1.2220
  16. 1.1900
Click on the level to view price action history.