GBPCAD Weekly Forex Forecast 10th December to 16th December by yshashmi37 on

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 peak is formed in daily chart at 1.7172 on 12/06/2018, so more losses to support(s) 1.6825 and minimum to Major Support (1.6595) 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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