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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

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Trading suggestion:

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

DateJune 12, 2021 - 12:36
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.78000, beginning of uptrend is expected.
  • We make sure when the resistance at 1.85250 breaks.
  • If the support at 1.78000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 55 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.8215 on 06/02/2021, so more gains to resistance(s) 1.8450 and maximum to Major Resistance (1.8525) 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 56.

Supports and Resistances:

  1. 2.0535
  2. 1.9535
  3. 1.9135
  4. 1.8525
  5. 1.8450
  6. 1.7415
  7. 1.7285
  8. 1.6860
  9. 1.6550
Click on the level to view price action history.