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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

Trading suggestion:

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

DateSeptember 16, 2023 - 19:43
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.28443, resumption of downtrend is expected.
  • We make sure when the support at 1.23080 breaks.
  • If the resistance at 1.28443 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.27455 on 08/30/2023, so more losses minimum to Major Support (1.23080) 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 30.

Supports and Resistances:

  1. 1.48250
  2. 1.45650
  3. 1.42460
  4. 1.36420
  5. 1.27317
  6. 1.23080
  7. 1.20018
  8. 1.17871
  9. 1.14000
  10. 1.09244
  11. 1.03265
Click on the level to view price action history.

Symbol Released Current Forecast
British Pound / US Dollar (GBPUSD) Sun, 16 Jun 2024
British Pound / US Dollar (GBPUSD) Sun, 9 Jun 2024
British Pound / US Dollar (GBPUSD) Sat, 8 Jun 2024
British Pound / US Dollar (GBPUSD) Sat, 1 Jun 2024
British Pound / US Dollar (GBPUSD) Sat, 25 May 2024