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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trade Setup

#GBPUSD
Total Profit: -1624 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1624 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 1.3749 based on 'Close below major support' entry method at 2021.03.23.

Open Profit:
Profit for one trade is 1.3749(open price) - 1.3981(current price) = -232 pip
7 trade(s) still open, therefore total profit for open trade(s) is -232 x 7 = -1624 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.

DateMay 9, 2021 - 15:56
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.43450, beginning of downtrend is expected.
  • We make sure when the support at 1.36550 breaks.
  • If the resistance at 1.43450 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 63 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.3800 on 05/03/2021, so more gains to resistance(s) 1.4015, 1.4240 and maximum to Major Resistance (1.4345) 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 59.

Take Profits:

  1. 1.3655
  2. 1.3480
  3. 1.3200
  4. 1.2695
  5. 1.2250
  6. 1.1960
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