Weekly GBPUSD Technical Analysis and Forecast - Forex - Forecast City

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Weekly forecast		British Pound / US Dollar technical chart
Symbol	GBPUSD	Download MT4 template file Trading suggestion: By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
Date	September 19, 2020 - 21:57
Current	range bound
Forecast	beginning of downtrend
Midterm forecast: While the price is below the resistance 1.30000, beginning of downtrend is expected. We make sure when the support at 1.22500 breaks. If the resistance at 1.30000 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 1.31695 on 2020-07-31 and the peak at 1.34815 on 2020-09-01, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. A trough is formed in daily chart at 1.2755 on 09/11/2020, so more gains maximum to Major Resistance (1.3000) 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. Supports and Resistances: 1.3515 Resistance on 12/13/2019 Resistance on 05/18/2018 Resistance on 05/17/2018 Support on 05/11/2018 Support on 05/10/2018 Support on 05/09/2018 Support on 05/08/2018 Support on 05/07/2018 Support on 05/04/2018 Resistance on 12/29/2017 Resistance on 12/08/2017 Resistance on 12/04/2017 1.3200 Support on 09/04/2020 Resistance on 03/09/2020 Peak on 03/09/2020 Resistance on 01/07/2020 Resistance on 12/12/2019 Resistance on 12/11/2019 Resistance on 12/10/2019 Resistance on 04/04/2019 Resistance on 04/03/2019 Resistance on 03/28/2019 Resistance on 03/21/2019 Support on 03/18/2019 Support on 03/15/2019 Support on 03/14/2019 Resistance on 03/12/2019 Resistance on 03/11/2019 Support on 03/01/2019 Resistance on 01/29/2019 Resistance on 01/28/2019 Resistance on 01/25/2019 Resistance on 10/17/2018 Resistance on 10/16/2018 Resistance on 10/10/2018 Resistance on 09/26/2018 Resistance on 09/25/2018 Resistance on 09/19/2018 Resistance on 07/26/2018 Resistance on 07/25/2018 Support on 07/16/2018 Support on 07/13/2018 Support on 07/12/2018 Support on 07/11/2018 Support on 07/09/2018 Support on 07/06/2018 Resistance on 07/03/2018 Support on 06/26/2018 Support on 06/15/2018 Support on 05/29/2018 Resistance on 11/16/2017 Resistance on 11/15/2017 Resistance on 11/10/2017 Support on 10/31/2017 Resistance on 10/24/2017 Support on 09/14/2017 Support on 09/13/2017 Resistance on 09/11/2017 Resistance on 09/08/2017 Support on 09/15/2016 Resistance on 08/26/2016 Resistance on 08/23/2016 Resistance on 08/19/2016 Support on 06/30/2016 Support on 06/28/2016 Support on 06/27/2016 1.3000 Resistance on 09/17/2020 Resistance on 09/16/2020 Support on 08/12/2020 Trough on 08/12/2020 Support on 08/07/2020 Resistance on 07/29/2020 Resistance on 02/19/2020 Resistance on 02/12/2020 Resistance on 02/06/2020 Support on 01/30/2020 Support on 01/29/2020 Support on 01/28/2020 Support on 01/21/2020 Support on 01/17/2020 Support on 01/15/2020 Support on 12/19/2019 Resistance on 12/03/2019 Resistance on 10/22/2019 Resistance on 10/21/2019 Resistance on 10/18/2019 Resistance on 10/17/2019 Resistance on 05/13/2019 Support on 05/10/2019 Support on 05/09/2019 Support on 05/08/2019 Support on 05/03/2019 Resistance on 04/23/2019 Support on 04/05/2019 Support on 04/02/2019 Support on 04/01/2019 Support on 03/29/2019 Support on 03/21/2019 Support on 03/12/2019 Support on 03/08/2019 Resistance on 01/18/2019 Resistance on 01/17/2019 Resistance on 11/15/2018 Resistance on 11/14/2018 Resistance on 11/13/2018 Resistance on 11/02/2018 Resistance on 11/01/2018 Resistance on 10/24/2018 Support on 10/19/2018 Support on 10/05/2018 Support on 10/01/2018 Support on 09/28/2018 Resistance on 09/07/2018 Resistance on 08/06/2018 Support on 08/03/2018 Support on 07/20/2018 Support on 07/19/2018 1.2810 Support on 09/15/2020 Resistance on 07/24/2020 Resistance on 06/10/2020 Support on 03/11/2020 Support on 03/04/2020 Support on 02/28/2020 Support on 11/12/2019 Support on 11/07/2019 Support on 10/29/2019 Support on 10/28/2019 Support on 10/25/2019 Support on 10/24/2019 Support on 10/17/2019 Resistance on 10/15/2019 Resistance on 05/21/2019 Resistance on 01/10/2019 Resistance on 01/09/2019 Resistance on 01/08/2019 Resistance on 12/31/2018 Resistance on 12/06/2018 Support on 11/23/2018 Support on 11/19/2018 Resistance on 10/31/2018 Resistance on 10/30/2018 Support on 10/26/2018 Support on 10/25/2018 Support on 09/05/2018 Support on 09/04/2018 Resistance on 08/14/2018 Support on 08/09/2018 Support on 08/22/2017 Support on 07/12/2017 Support on 06/28/2017 Resistance on 06/19/2017 Resistance on 06/16/2017 Resistance on 06/15/2017 Resistance on 06/14/2017 Support on 05/31/2017 Support on 05/30/2017 Support on 04/26/2017 Support on 04/21/2017 1.2695 Resistance on 06/16/2020 Resistance on 06/05/2020 Support on 10/16/2019 Resistance on 10/11/2019 Resistance on 07/01/2019 Resistance on 06/27/2019 Resistance on 06/26/2019 Resistance on 06/13/2019 Resistance on 06/06/2019 Support on 05/21/2019 Support on 01/15/2019 Support on 01/09/2019 Support on 01/08/2019 Resistance on 12/21/2018 Resistance on 12/20/2018 Resistance on 12/18/2018 Resistance on 12/13/2018 Support on 12/06/2018 Support on 12/05/2018 Support on 12/04/2018 Support on 12/03/2018 Support on 10/31/2018 Support on 10/30/2018 Trough on 10/30/2018 Support on 08/17/2018 Support on 08/14/2018 Resistance on 06/22/2017 Resistance on 06/21/2017 Support on 06/15/2017 Support on 06/09/2017 Resistance on 02/02/2017 Resistance on 12/14/2016 Resistance on 12/13/2016 Resistance on 12/12/2016 Resistance on 12/08/2016 Resistance on 12/07/2016 Resistance on 12/01/2016 1.2540 Support on 07/20/2020 Support on 07/17/2020 Support on 07/16/2020 Support on 07/15/2020 Support on 07/14/2020 Support on 07/13/2020 Resistance on 07/07/2020 Resistance on 07/02/2020 Resistance on 06/24/2020 Resistance on 06/23/2020 Support on 06/17/2020 Support on 06/16/2020 Resistance on 04/13/2020 Support on 03/12/2020 Resistance on 09/20/2019 Resistance on 09/19/2019 Resistance on 07/15/2019 Resistance on 07/11/2019 Support on 06/19/2019 Support on 01/03/2019 Click on the level to view price action history.

Symbol	Released	Current	Forecast
British Pound / US Dollar (GBPUSD)	Sun, 14 Apr 2024
British Pound / US Dollar (GBPUSD)	Sat, 6 Apr 2024
British Pound / US Dollar (GBPUSD)	Sat, 30 Mar 2024
British Pound / US Dollar (GBPUSD)	Sat, 23 Mar 2024
British Pound / US Dollar (GBPUSD)^free	Sun, 17 Mar 2024