GBPAUD Weekly Forex Forecast 14th October to 20th October by yshashmi37 on

Midterm forecast:

While the price is below the resistance 1.8825, beginning of downtrend is expected.
We make sure when the support at 1.8370 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 peak is formed in daily chart at 1.8725 on 10/11/2018, so more losses minimum to Major Support (1.8370) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 59.

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