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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

Download MT4 template file

Trade Setup
#GBPUSD
Total Profit: 3105 pip
Closed trade(s): 1875 pip Profit
Open trade(s): 1230 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.
TP3 @ 1.2810 touched at 2020.07.27 with 336 pip Profit.
TP4 @ 1.3000 touched at 2020.07.29 with 526 pip Profit.
TP5 @ 1.3200 touched at 2020.08.18 with 726 pip Profit.
66 + 221 + 336 + 526 + 726 = 1875 pip

Open Profit:
Profit for one trade is 1.3089(current price) - 1.2474(open price) = 615 pip
2 trade(s) still open, therefore total profit for open trade(s) is 615 x 2 = 1230 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 1.26950 is broken, we will close open trades.

DateAugust 22, 2020 - 19:52
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1.26950 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 1.26950 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1.3000 on 08/12/2020, so more gains to resistance(s) 1.3200, 1.3515, 1.3655 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 57.

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
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British Pound / US Dollar (GBPUSD) free Sat, 9 Mar 2024
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British Pound / US Dollar (GBPUSD) free Sun, 25 Feb 2024