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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateOctober 17, 2021 - 13:15
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.82750, resumption of uptrend is expected.
  • We make sure when the resistance at 0.86610 breaks.
  • If the support at 0.82750 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • There is a divergence in RSI and price between the trough at 0.85385 on 2021-02-24 and the trough at 0.84667142857143 on 2021-04-07, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 0.8658 on 09/29/2021, so more losses to support(s) 0.8423, 0.8364 and minimum to Major Support (0.8275) 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 32.

Take Profits:

  1. 0.8687
  2. 0.8785
  3. 0.8860
  4. 0.8940
  5. 0.9000
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sat, 23 Mar 2024
Euro / British Pound (EURGBP) Sun, 17 Mar 2024
Euro / British Pound (EURGBP) Sat, 9 Mar 2024
Euro / British Pound (EURGBP) Sat, 2 Mar 2024
Euro / British Pound (EURGBP) Sun, 25 Feb 2024