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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.6770 to 1.6540). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.6770)
    • Support on 10/04/2016
    • Support on 10/05/2016
    • Resistance on 11/04/2016
    • Resistance on 11/09/2016
    • Resistance on 11/21/2016
    • Resistance on 11/22/2016
    • Resistance on 11/23/2016
    • Support on 11/25/2016
    • Support on 11/30/2016
    • Support on 12/05/2016
    • Resistance on 12/08/2016
    • Resistance on 04/03/2017
    • Resistance on 04/05/2017
    • Resistance on 04/06/2017
    • Support on 06/14/2017
    • Support on 06/22/2017
    • Support on 06/23/2017
    • Support on 06/28/2017
    • Resistance on 09/21/2017
    • Resistance on 09/28/2017
    • Resistance on 09/29/2017
    • Resistance on 11/14/2017
    • Support on 01/05/2018
    • Support on 01/08/2018
    • Resistance on 08/14/2018
    • Resistance on 08/23/2018
    • Resistance on 08/24/2018
    • Resistance on 08/27/2018
    • Support on 10/24/2018
    • Support on 10/29/2018
    • Support on 11/15/2018
    • Support on 12/03/2018
    • Support on 12/04/2018
    • Support on 12/10/2018
    • Support on 12/14/2018
    • Support on 01/11/2019
    • Support on 06/18/2019
    • Support on 06/19/2019
    • Support on 06/24/2019
    • Resistance on 10/11/2019
    • Support on 10/16/2019
    • Support on 10/24/2019
    • Support on 10/29/2019
    • Support on 03/18/2020
    • Resistance on 03/20/2020
    • Resistance on 03/23/2020
    • Support on 03/25/2020
    • Support on 03/26/2020
    • Support on 06/19/2020
    • Support on 06/29/2020
    • Support on 06/30/2020
    • Support on 07/01/2020
  • Ending of entry zone (1.6540)
    • Resistance on 11/02/2016
    • Support on 12/09/2016
    • Support on 12/15/2016
    • Support on 12/16/2016
    • Support on 12/19/2016
    • Support on 12/22/2016
    • Support on 12/23/2016
    • Support on 12/26/2016
    • Support on 12/27/2016
    • Support on 12/28/2016
    • Support on 12/29/2016
    • Support on 12/30/2016
    • Resistance on 01/03/2017
    • Resistance on 01/25/2017
    • Resistance on 01/26/2017
    • Resistance on 01/30/2017
    • Resistance on 02/01/2017
    • Resistance on 03/17/2017
    • Resistance on 03/20/2017
    • Support on 03/29/2017
    • Support on 03/30/2017
    • Support on 04/07/2017
    • Support on 04/13/2017
    • Support on 07/10/2017
    • Support on 07/17/2017
    • Resistance on 08/04/2017
    • Resistance on 08/07/2017
    • Resistance on 08/08/2017
    • Resistance on 08/09/2017
    • Resistance on 08/10/2017
    • Resistance on 08/11/2017
    • Support on 09/27/2017
    • Resistance on 10/09/2017
    • Resistance on 10/10/2017
    • Resistance on 10/11/2017
    • Resistance on 10/12/2017
    • Resistance on 10/18/2017
    • Support on 07/01/2019
    • Resistance on 09/16/2019
    • Resistance on 09/23/2019
    • Resistance on 09/24/2019
    • Resistance on 09/25/2019
    • Resistance on 10/03/2019
    • Resistance on 10/10/2019
    • Support on 03/19/2020
    • Trough on 03/20/2020
    • Support on 03/20/2020

DateSeptember 19, 2020 - 21:58
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.65400, beginning of uptrend is expected.
  • We make sure when the resistance at 1.71750 breaks.
  • If the support at 1.65400 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 45 is broken, so the probability of beginning of uptrend is decreased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.6810 on 09/11/2020, so more gains maximum to Major Resistance (1.7175) 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 43.

Take Profits:

  1. 1.6975
  2. 1.7175
  3. 1.7535
  4. 1.7790
  5. 1.8050
Click on the level to view price action history.