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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trading suggestion:

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

DateFebruary 28, 2021 - 15:29
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.22600, resumption of uptrend is expected.
  • We make sure when the resistance at 1.28950 breaks.
  • If the support at 1.22600 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.2895 on 02/24/2021, so more losses to support(s) 1.2475 and minimum to Major Support (1.2260) 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 68.

Supports and Resistances:

  1. 1.3420
  2. 1.3055
  3. 1.2895
  4. 1.2750
  5. 1.2475
  6. 1.2055
  7. 1.1915
  8. 1.1600
Click on the level to view price action history.