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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 Sell Zone (1.7435 to 1.7535). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.7435)
    • Support on 12/04/2013
    • Resistance on 12/06/2013
    • Resistance on 12/11/2013
    • Resistance on 12/12/2013
    • Support on 12/19/2013
    • Support on 01/02/2014
    • Support on 01/03/2014
    • Support on 06/24/2016
    • Resistance on 06/30/2016
    • Resistance on 07/13/2016
    • Resistance on 07/14/2016
    • Resistance on 07/22/2016
    • Resistance on 07/27/2016
    • Resistance on 07/28/2016
    • Resistance on 08/04/2016
    • Resistance on 09/01/2016
    • Resistance on 09/02/2016
    • Resistance on 09/12/2016
    • Resistance on 09/13/2016
    • Resistance on 09/16/2016
    • Resistance on 04/25/2017
    • Support on 04/27/2017
    • Support on 05/23/2017
    • Resistance on 05/31/2017
    • Resistance on 06/01/2017
    • Resistance on 06/02/2017
    • Resistance on 06/05/2017
    • Resistance on 01/22/2018
    • Resistance on 01/23/2018
    • Support on 01/25/2018
    • Support on 01/26/2018
    • Support on 01/31/2018
    • Support on 02/01/2018
    • Support on 02/05/2018
    • Support on 02/08/2018
    • Support on 02/14/2018
    • Support on 05/02/2018
    • Resistance on 05/04/2018
    • Resistance on 06/05/2018
    • Resistance on 06/07/2018
    • Resistance on 06/08/2018
    • Resistance on 06/11/2018
    • Resistance on 06/12/2018
    • Resistance on 06/14/2018
    • Support on 06/27/2018
    • Resistance on 07/05/2018
    • Resistance on 07/06/2018
    • Resistance on 07/09/2018
    • Resistance on 07/10/2018
    • Resistance on 07/11/2018
    • Resistance on 07/12/2018
    • Resistance on 07/16/2018
    • Resistance on 12/31/2018
    • Resistance on 01/23/2019
    • Support on 03/01/2019
    • Support on 03/08/2019
    • Support on 03/12/2019
    • Support on 03/13/2019
    • Support on 03/21/2019
    • Support on 04/04/2019
    • Support on 04/05/2019
    • Resistance on 04/23/2019
    • Resistance on 04/24/2019
    • Resistance on 04/25/2019
    • Resistance on 04/26/2019
    • Resistance on 04/29/2019
    • Support on 05/01/2019
    • Support on 05/10/2019
    • Resistance on 12/06/2019
    • Resistance on 12/09/2019
    • Resistance on 12/10/2019
    • Resistance on 12/11/2019
    • Support on 03/12/2020
    • Resistance on 03/27/2020
    • Support on 03/31/2020
    • Support on 04/01/2020
    • Support on 04/02/2020
    • Resistance on 04/06/2020
    • Resistance on 04/08/2020
    • Resistance on 04/09/2020
    • Resistance on 04/10/2020
    • Resistance on 04/13/2020
    • Support on 04/21/2020
    • Support on 04/22/2020
    • Resistance on 08/05/2020
    • Resistance on 08/18/2020
    • Resistance on 08/19/2020
    • Resistance on 08/20/2020
    • Resistance on 08/21/2020
    • Resistance on 09/03/2020
    • Resistance on 09/04/2020
    • Resistance on 11/23/2020
    • Resistance on 11/24/2020
    • Resistance on 12/23/2020
    • Resistance on 12/24/2020
    • Resistance on 12/28/2020
    • Resistance on 12/31/2020
    • Resistance on 01/13/2021
  • Ending of entry zone (1.7535)
    • Resistance on 12/04/2013
    • Resistance on 12/20/2013
    • Support on 12/30/2013
    • Support on 12/31/2013
    • Support on 01/02/2014
    • Support on 09/08/2014
    • Support on 11/21/2014
    • Support on 06/24/2016
    • Resistance on 06/27/2016
    • Resistance on 06/28/2016
    • Resistance on 06/29/2016
    • Resistance on 06/30/2016
    • Resistance on 08/03/2016
    • Resistance on 09/15/2016
    • Support on 05/16/2017
    • Support on 05/17/2017
    • Support on 05/18/2017
    • Support on 05/22/2017
    • Resistance on 05/24/2017
    • Resistance on 06/07/2017
    • Resistance on 06/08/2017
    • Resistance on 01/26/2018
    • Resistance on 02/01/2018
    • Resistance on 02/02/2018
    • Resistance on 02/05/2018
    • Resistance on 02/06/2018
    • Resistance on 02/08/2018
    • Resistance on 02/09/2018
    • Resistance on 02/13/2018
    • Resistance on 02/14/2018
    • Support on 02/20/2018
    • Resistance on 05/08/2018
    • Resistance on 05/09/2018
    • Resistance on 06/15/2018
    • Resistance on 06/18/2018
    • Resistance on 06/19/2018
    • Resistance on 06/20/2018
    • Resistance on 01/25/2019
    • Resistance on 02/27/2019
    • Resistance on 02/28/2019
    • Support on 03/06/2019
    • Support on 03/15/2019
    • Support on 03/20/2019
    • Resistance on 03/29/2019
    • Resistance on 04/01/2019
    • Resistance on 04/02/2019
    • Resistance on 04/05/2019
    • Resistance on 04/15/2019
    • Resistance on 04/16/2019
    • Resistance on 04/30/2019
    • Support on 05/03/2019
    • Resistance on 05/10/2019
    • Resistance on 12/17/2019
    • Resistance on 03/06/2020
    • Resistance on 03/13/2020
    • Resistance on 04/03/2020
    • Resistance on 04/14/2020
    • Support on 04/16/2020
    • Resistance on 05/05/2020
    • Resistance on 08/03/2020
    • Resistance on 08/04/2020
    • Resistance on 08/06/2020
    • Resistance on 08/07/2020
    • Resistance on 09/01/2020

DateJanuary 23, 2021 - 20:56
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.80500, beginning of downtrend is expected.
  • We make sure when the support at 1.65850 breaks.
  • If the resistance at 1.80500 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.7413 on 01/20/2021, so more losses to support(s) 1.7165, 1.6975, 1.6770 and minimum to Major Support (1.6585) 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 58.

Take Profits:

  1. 1.7165
  2. 1.6975
  3. 1.6770
  4. 1.6585
  5. 1.6190
  6. 1.5875
Click on the level to view price action history.