GBPUSD Weekly Forex Forecast 30 September to 6th October
Midterm forecast:
While the price is above the support 1.2660, beginning of uptrend is expected.
We make sure when the resistance at 1.3315 breaks.
If the support at 1.2660 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI support #1 at 46 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 1.3300 on 09/20/2018, so more losses to support(s) 1.3000, 1.2955, 1.2775 and minimum to Major Support (1.2660) 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 48.
While the price is above the support 1.2660, beginning of uptrend is expected.
We make sure when the resistance at 1.3315 breaks.
If the support at 1.2660 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI support #1 at 46 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 1.3300 on 09/20/2018, so more losses to support(s) 1.3000, 1.2955, 1.2775 and minimum to Major Support (1.2660) 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 48.
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