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Weekly forecast British Pound / Singapore Dollar technical chart
Symbol GBPSGD
Trade Setup

#GBPSGD
Total Profit: 387 pip
Closed trade(s): 219 pip Profit
Open trade(s): 168 pip Profit

Trade Setup:
We opened 8 SELL trades @ 1.71385 based on 'Peak' entry method at 2024-08-29.

Closed Profit:
TP1 @ 1.70802 touched at 2024-09-02 with 59 pip Profit.
TP2 @ 1.69793 touched at 2024-09-11 with 160 pip Profit.
59 + 160 = 219 pip

Open Profit:
Profit for one SELL trade is 1.71385(open price) - 1.71113(current price) = 28 pip
6 trade(s) still open, therefore total profit for open trade(s) is 28 x 6 = 168 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateNovember 3, 2024 - 20:44
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.73493, resumption of downtrend is expected.
  • We make sure when the support at 1.67593 breaks.
  • If the resistance at 1.73493 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.72315 on 09/24/2024, so more losses to support(s) 1.70802, 1.69793, 1.68696 and minimum to Major Support (1.67593) 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 52.

Take Profits:

  1. 1.70802
  2. 1.69793
  3. 1.68696
  4. 1.67593
  5. 1.65235
  6. 1.63893
  7. 1.62350
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Singapore Dollar (GBPSGD) free Mon, 25 Nov 2024
British Pound / Singapore Dollar (GBPSGD) free Fri, 15 Nov 2024
British Pound / Singapore Dollar (GBPSGD) Sun, 3 Nov 2024
British Pound / Singapore Dollar (GBPSGD) Sun, 27 Oct 2024
British Pound / Singapore Dollar (GBPSGD) Sun, 20 Oct 2024
History
Daily-Trading-Opportunities on GBPSGD.