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GBPCAD Weekly Forex Forecast 2nd December to 8th December by yshashmi37 on TradingView.com
Midterm forecast:
While the price is above the support 1.6595, beginning of uptrend is expected.
We make sure when the resistance at 1.7285 breaks.
If the support at 1.6595 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI bounced from the resistance #1 at 62 and it prevented price from more gains.
A trough is formed in daily chart at 1.6785 on 11/15/2018, so more gains to resistance(s) 1.7055 and maximum to Major Resistance (1.7285) 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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