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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

Download MT4 template file

Trade Setup
#GBPUSD
Total Profit: 4021 pip
Closed trade(s): 3119 pip Profit
Open trade(s): 902 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.2301 based on 'Hammer' at 2019.10.01 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.2380 touched at 2019.10.03 with 79 pip Profit.
TP2 @ 1.2475 touched at 2019.10.11 with 174 pip Profit.
TP3 @ 1.2655 touched at 2019.10.11 with 354 pip Profit.
TP4 @ 1.2865 touched at 2019.10.16 with 564 pip Profit.
TP5 @ 1.3170 touched at 2019.12.09 with 869 pip Profit.
TP6 @ 1.3380 touched at 2019.12.13 with 1079 pip Profit.
79 + 174 + 354 + 564 + 869 + 1079 = 3119 pip

Open Profit:
Profit for one trade is 1.3203(current price) - 1.2301(open price) = 902 pip
1 trade(s) still open, therefore total profit for open trade(s) is 902 x 1 = 902 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.28650 is broken, we will close open trades.
DateFebruary 1, 2020 - 19:46
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.
  • We will close our open trades, if the Midterm level 1.28650 is broken.

Technical analysis:

  • A trough is formed in daily chart at 1.2975 on 01/30/2020, so more gains to resistance(s) 1.3380, 1.3655, 1.3970 and more heights 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 60.

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) new Sun, 21 Apr 2024
British Pound / US Dollar (GBPUSD) Sun, 14 Apr 2024
British Pound / US Dollar (GBPUSD) Sat, 6 Apr 2024
British Pound / US Dollar (GBPUSD) Sat, 30 Mar 2024
British Pound / US Dollar (GBPUSD) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on GBPUSD.