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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD
Trade Setup

#GBPUSD:
Total Loss: 2208 pip
Closed trade(s): 2208 pip Loss

Trade Setup:
We opened 8 BUY trade(s) @ 1.3116 (day close price) based on 'Valley' at 2022.04.13 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Total Loss:
SL @ 1.2840 touched at 2022.04.14 with 276 pip Loss.
Loss for one trade is 1.3116(open price) - 1.2840(close price) = 276 pip
Therefore total loss for trades is 276 x 8 = 2208 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateApril 23, 2022 - 13:18
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.29756 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.30900 on 04/21/2022, so more losses to support(s) 1.28170, 1.26950, 1.25430 and more depths is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 31.

Supports and Resistances:

  1. 1.48250
  2. 1.45650
  3. 1.37937
  4. 1.36391
  5. 1.34270
  6. 1.33050
  7. 1.31830
  8. 1.28170
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