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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP
Trade Setup

#EURGBP
Total Profit: 2278 pip
Closed trade(s): 2278 pip Profit

Trade Setup:
We opened 8 BUY trades @ 0.84878 based on 'Valley' entry method at 2022-08-26.

Closed Profit:
TP1 @ 0.85664 touched at 2022-08-30 with 78 pip Profit.
TP2 @ 0.86328 touched at 2022-08-31 with 145 pip Profit.
TP3 @ 0.87156 touched at 2022-09-12 with 228 pip Profit.
TP4 @ 0.87890 touched at 2022-09-23 with 301 pip Profit.
TP5 @ 0.88600 touched at 2022-09-23 with 372 pip Profit.
TP6 @ 0.89400 touched at 2022-09-26 with 452 pip Profit.
TP7 @ 0.90000 touched at 2022-09-26 with 512 pip Profit.
1 trade(s) closed at market price as the major support is broken, therefore total profit will increase by 190 x 1 = 190 pip
78 + 145 + 228 + 301 + 372 + 452 + 512 = 2278 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMay 21, 2023 - 07:41
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.90000, beginning of downtrend is expected.
  • We make sure when the support at 0.85646 breaks.
  • If the resistance at 0.90000 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.87340 on 05/11/2023, so more losses to support(s) 0.86325 and minimum to Major Support (0.85646) 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 38.

Supports and Resistances:

  1. 0.90000
  2. 0.89400
  3. 0.88660
  4. 0.87890
  5. 0.87278
  6. 0.86325
  7. 0.85646
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sat, 23 Mar 2024
Euro / British Pound (EURGBP) Sun, 17 Mar 2024
Euro / British Pound (EURGBP) Sat, 9 Mar 2024
Euro / British Pound (EURGBP) Sat, 2 Mar 2024
Euro / British Pound (EURGBP) Sun, 25 Feb 2024