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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.

DateMay 30, 2020 - 22:59
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.20100, beginning of uptrend is expected.
  • We make sure when the resistance at 1.26550 breaks.
  • If the support at 1.20100 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.2070 on 05/18/2020, so more gains to resistance(s) 1.2485 and maximum to Major Resistance (1.2655) 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 53.

Supports and Resistances:

  1. 1.2245
Click on the level to view price action history.

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