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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.4015 to 1.4240). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.4015)
  • Ending of entry zone (1.4240)

DateSeptember 12, 2021 - 21:07
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.40150 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • A trough is formed in daily chart at 1.3726 on 09/08/2021, so more gains maximum to Major Resistance (1.4015) 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 53.

Take Profits:

  1. 1.3730
  2. 1.3655
  3. 1.3460
  4. 1.3200
  5. 1.3005
  6. 1.2695
  7. 1.2250
  8. 1.1960
Click on the level to view price action history.

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