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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.2175 to 1.2015). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.2175)
    • Support on 10/07/2016
    • Support on 10/13/2016
    • Support on 10/14/2016
    • Support on 10/18/2016
    • Support on 10/21/2016
    • Support on 10/24/2016
    • Support on 10/25/2016
    • Support on 10/26/2016
    • Support on 10/31/2016
    • Support on 03/07/2017
    • Resistance on 08/16/2019
    • Resistance on 08/19/2019
    • Resistance on 08/20/2019
    • Resistance on 08/21/2019
    • Support on 08/28/2019
    • Support on 08/29/2019
    • Resistance on 09/02/2019
  • Ending of entry zone (1.2015)
    • Support on 10/07/2016
    • Support on 01/17/2017
    • Support on 08/09/2019
    • Trough on 08/12/2019
    • Support on 08/12/2019
    • Support on 09/03/2019

DateJanuary 18, 2020 - 20:46
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.28650 would begin in Midterm.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
  • A peak is formed in daily chart at 1.3280 on 12/31/2019, so more losses to support(s) 1.3000 and minimum to Major Support (1.2865) 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 47.

Take Profits:

  1. 1.2380
  2. 1.2475
  3. 1.2655
  4. 1.2865
  5. 1.3170
  6. 1.3380
Click on the level to view price action history.

Symbol Released Current Forecast
British Pound / US Dollar (GBPUSD) Sat, 23 Mar 2024
British Pound / US Dollar (GBPUSD) free Sun, 17 Mar 2024
British Pound / US Dollar (GBPUSD) free Sat, 9 Mar 2024
British Pound / US Dollar (GBPUSD) Sat, 2 Mar 2024
British Pound / US Dollar (GBPUSD) free Sun, 25 Feb 2024