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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

Download MT4 template file

Trade Setup
#GBPUSD
Total Profit: 1892 pip
Closed trade(s): 287 pip Profit
Open trade(s): 1605 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.2474 (day close price) based on 'Valley' at 2020.07.01 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.2540 touched at 2020.07.07 with 66 pip Profit.
TP2 @ 1.2695 touched at 2020.07.21 with 221 pip Profit.
66 + 221 = 287 pip

Open Profit:
Profit for one trade is 1.2795(current price) - 1.2474(open price) = 321 pip
5 trade(s) still open, therefore total profit for open trade(s) is 321 x 5 = 1605 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.

DateJuly 26, 2020 - 16:34
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.19600, beginning of uptrend is expected.
  • We make sure when the resistance at 1.28100 breaks.
  • If the support at 1.19600 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.2668 on 07/09/2020, so more losses to support(s) 1.2695, 1.2540, 1.2340 and minimum to Major Support (1.1960) 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 69.

Take Profits:

  1. 1.2540
  2. 1.2695
  3. 1.2810
  4. 1.3000
  5. 1.3200
  6. 1.3515
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