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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trading suggestion:

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

DateAugust 10, 2019 - 21:51
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.23000 would begin in Midterm.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.2380 on 07/17/2019, so more gains to resistance(s) 1.2100 and maximum to Major Resistance (1.2300) 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 25.

Supports and Resistances:

  1. 1.4345
  2. 1.3970
  3. 1.3655
  4. 1.3380
  5. 1.3170
  6. 1.2865
  7. 1.2775
  8. 1.2655
  9. 1.2560
  10. 1.1990
Click on the level to view price action history.

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