EURGBP Weekly Forex Forecast 30 September to 6th October
Midterm forecast:
While the price is below the resistance 0.9305, beginning of downtrend is expected.
We make sure when the support at 0.8850 breaks.
If the resistance at 0.9305 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 54 is not broken, the probability of price increase would be too low.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 46.
While the price is below the resistance 0.9305, beginning of downtrend is expected.
We make sure when the support at 0.8850 breaks.
If the resistance at 0.9305 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 54 is not broken, the probability of price increase would be too low.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 46.
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