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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

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Trading suggestion:

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

DateJuly 31, 2021 - 11:29
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.67700, beginning of uptrend is expected.
  • We make sure when the resistance at 1.78750 breaks.
  • If the support at 1.67700 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.7499 on 07/28/2021, so more losses to support(s) 1.7315, 1.7160, 1.6905 and minimum to Major Support (1.6770) 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 54.

Supports and Resistances:

  1. 1.8050
  2. 1.7435
  3. 1.7315
  4. 1.7160
  5. 1.6905
  6. 1.6770
  7. 1.6585
  8. 1.6190
  9. 1.5875
Click on the level to view price action history.