GBPJPY Weekly Forex Forecast 1st October to 6th October
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 145.25 would begin in Midterm.
Technical analysis:
The RSI bounced from the resistance #1 at 68 and it prevented price from more gains.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 61.
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 145.25 would begin in Midterm.
Technical analysis:
The RSI bounced from the resistance #1 at 68 and it prevented price from more gains.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 61.
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