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

#GBPUSD
Total Profit: -392 pip
Closed trade(s): 0 pip Profit
Open trade(s): -392 pip Profit

Trade Setup:
We opened 14 BUY trades @ 1.08845 based on 'Valley' entry method at 2022-09-28.

Open Profit:
Profit for one BUY trade is 1.08566(current price) - 1.08845(open price) = -28 pip
14 trade(s) still open, therefore total profit for open trade(s) is -28 x 14 = -392 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 28, 2022 - 23:12
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.03265, beginning of uptrend is expected.
  • We make sure when the resistance at 1.14000 breaks.
  • If the support at 1.03265 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.03265 on 09/26/2022, so more gains to resistance(s) 1.10821, 1.12588 and maximum to Major Resistance (1.14000) 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 28.

Take Profits:

  1. 1.10821
  2. 1.12588
  3. 1.14000
  4. 1.17350
  5. 1.19355
  6. 1.22795
  7. 1.26521
  8. 1.29757
  9. 1.31600
  10. 1.36420
  11. 1.42460
  12. 1.45650
  13. 1.48250
Click on the level to view price action history.

Symbol Released Current Forecast
British Pound / US Dollar (GBPUSD) new Sat, 26 Nov 2022
British Pound / US Dollar (GBPUSD) free Sun, 20 Nov 2022
British Pound / US Dollar (GBPUSD) free Sun, 13 Nov 2022
British Pound / US Dollar (GBPUSD) Sat, 5 Nov 2022
British Pound / US Dollar (GBPUSD) free Sat, 29 Oct 2022