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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.

DateDecember 24, 2016 - 08:34
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 1.2730 on 12/13/2016, so more losses to support(s) 1.1925 and more depths 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 37.

Supports and Resistances:

  1. 1.1925
  2. 1.2800
  3. 1.3120
  4. 1.3500
  5. 1.3680
  6. 1.3835
  7. 1.4045
  8. 1.4430
  9. 1.4565
  10. 1.4735
  11. 1.4825
  12. 1.5100
  13. 1.5240
  14. 1.5355
  15. 1.5495
  16. 1.5895
  17. 1.6060
  18. 1.6455
  19. 1.6745
  20. 1.7180
Click on the level to view price action history.

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