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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.

DateJanuary 16, 2021 - 21:50
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.37200, beginning of downtrend is expected.
  • We make sure when the support at 1.32000 breaks.
  • If the resistance at 1.37200 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.3715 on 01/14/2021, so more losses to support(s) 1.3480 and minimum to Major Support (1.3200) 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 54.

Supports and Resistances:

  1. 1.3480
  2. 1.3200
  3. 1.3000
  4. 1.2810
  5. 1.2695
  6. 1.2540
Click on the level to view price action history.

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