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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 12, 2019 - 20:58
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.24750, beginning of uptrend is expected.
  • We make sure when the resistance at 1.29200 breaks.
  • If the support at 1.24750 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the downtrend #1 and it prevented price from more gains.
  • A trough is formed in daily chart at 1.2398 on 01/03/2019, so more gains maximum to Major Resistance (1.2920) 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 57.

Supports and Resistances:

  1. 1.4345
  2. 1.3970
  3. 1.3655
  4. 1.3430
  5. 1.3200
  6. 1.3040
  7. 1.2920
  8. 1.2345
  9. 1.2155
  10. 1.1990
Click on the level to view price action history.

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