💡 GBPCAD - Weekly Technical Analysis Update
Midterm forecast:
While the price is above the support 1.52450, beginning of uptrend is expected.
We make sure when the resistance at 1.60016 breaks.
If the support at 1.52450 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 1.60020 on 06/17/2022, so more losses to support(s) 1.53533 and minimum to Major Support (1.52450) 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 37.
Supports and Resistances:
1.80078
1.76000
1.73728
1.69541
1.66382
1.61707
1.60016
1.57750
1.56132
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While the price is above the support 1.52450, beginning of uptrend is expected.
We make sure when the resistance at 1.60016 breaks.
If the support at 1.52450 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 1.60020 on 06/17/2022, so more losses to support(s) 1.53533 and minimum to Major Support (1.52450) 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 37.
Supports and Resistances:
1.80078
1.76000
1.73728
1.69541
1.66382
1.61707
1.60016
1.57750
1.56132
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
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