GBPAUD Weekly Forex Forecast 11th November to 17th November by yshashmi37 on

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.8510 would begin in Midterm.
Technical analysis:

The RSI support #1 at 50 is broken, so the probability of beginning of downtrend is increased.
While the RSI resistance #2 at 50 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 1.7860 on 10/30/2018, so more gains to resistance(s) 1.8110, 1.8215, 1.8370 and maximum to Major Resistance (1.8510) 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 39.

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