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

#GBPUSD
Total Profit: 848 pip
Closed trade(s): 80 pip Profit
Open trade(s): 768 pip Profit

Trade Setup:
We opened 13 BUY trades @ 1.15273 based on 'Hammer' entry method at 2022-09-07.

Closed Profit:
TP1 @ 1.16073 touched at 2022-09-09 with 80 pip Profit.

Open Profit:
Profit for one BUY trade is 1.15905(current price) - 1.15273(open price) = 64 pip
12 trade(s) still open, therefore total profit for open trade(s) is 64 x 12 = 768 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.

DateSeptember 10, 2022 - 13:19
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.14000, beginning of uptrend is expected.
  • We make sure when the resistance at 1.19355 breaks.
  • If the support at 1.14000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.21549 on 2022-05-13 and the trough at 1.14042 on 2022-09-07, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.14040 on 09/07/2022, so more gains to resistance(s) 1.16073, 1.17590 and maximum to Major Resistance (1.19355) 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 36.

Take Profits:

  1. 1.16073
  2. 1.17590
  3. 1.19355
  4. 1.21438
  5. 1.22795
  6. 1.26521
  7. 1.29757
  8. 1.31600
  9. 1.36420
  10. 1.42460
  11. 1.45650
  12. 1.48250
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