GBPUSD Weekly Forex Forecast 6th October to 12th October by yshashmi37 on

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 trough is formed in daily chart at 1.2920 on 10/04/2018, so more gains to resistance(s) 1.3170 and maximum to Major Resistance (1.3300) 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 55.

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