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

#GBPUSD
Total Profit: 9116 pip
Closed trade(s): 1086 pip Profit
Open trade(s): 8030 pip Profit

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

Closed Profit:
TP1 @ 1.10821 touched at 2022-09-29 with 197 pip Profit.
TP2 @ 1.12588 touched at 2022-10-03 with 374 pip Profit.
TP3 @ 1.14000 touched at 2022-10-04 with 515 pip Profit.
197 + 374 + 515 = 1086 pip

Open Profit:
Profit for one BUY trade is 1.16145(current price) - 1.08845(open price) = 730 pip
11 trade(s) still open, therefore total profit for open trade(s) is 730 x 11 = 8030 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.

DateOctober 29, 2022 - 12:20
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 1.17200 breaks.
  • If the support at 1.03265 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.10564 on 10/21/2022, so more gains maximum to Major Resistance (1.17200) 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 60.

Take Profits:

  1. 1.10834
  2. 1.12588
  3. 1.15000
  4. 1.17200
  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) 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