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GBPAUD Weekly Forex Forecast 7th October to 13th October by yshashmi37 on TradingView.com
Midterm forecast:
While the price is below the resistance 1.8825, beginning of downtrend is expected.
We make sure when the support at 1.8400 breaks.
If the resistance at 1.8825 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
The RSI bounced from the support #1 at 50 and it prevented price from more losses.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 1.8000 on 09/28/2018, so more gains to resistance(s)1.8660 and maximum to Major Resistance(1.8825) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic supportagainst more losses.
Relative strength index (RSI) is 69.
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