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GBPUSD Weekly Forex Forecast 21st October to 27th October by yshashmi37 on TradingView.com
Midterm forecast:
While the price is above the support 1.2660, beginning of uptrend is expected.
We make sure when the resistance at 1.3300 breaks.
If the support at 1.2660 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI bounced from the support #1 at 44 and it prevented price from more losses.
A peak is formed in daily chart at 1.3255 on 10/12/2018, so more losses to support(s) 1.3025, 1.2955, 1.2920 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 49.
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